Interest rate on bank loans fell 1.02% to 6.94% in Panama in 2021, according to the National Central Bank.
Historically, interest rate on bank loans in Panama reached an all time high of 12.9% in 1989 and an all time low of 6.50% in 2015. When compared to Panama's main peers, interest rate on bank loans in Colombia amounted to 9.34%, 5.51% in Costa Rica, 16.0% in Honduras and 9.62% in Nicaragua in 2021.
Panama has been ranked 58th within the group of 94 countries we follow in terms of interest rate on bank loans, 35 places above the position seen 10 years ago.
| Interest Rate on Bank Loans (Local Currency) | Unit | 2001 | 2002 | 2003 | 2004 | 2005 | 2006 | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 |
| Belize | % | 10.3% | 9.84% | 9.46% | 9.12% | 9.07% | ||||||||||||||||
| Brazil | % | 44.0% | 52.1% | 46.9% | 39.1% | 37.5% | ||||||||||||||||
| Colombia | % | 11.4% | 14.6% | 13.7% | 12.1% | 11.8% | ||||||||||||||||
| Costa Rica | % | 14.2% | 11.6% | 11.4% | 11.1% | 8.75% | ||||||||||||||||
| El Salvador | % | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... |
| Guatemala | % | 13.2% | 13.1% | 13.1% | 12.9% | 12.7% | ||||||||||||||||
| Honduras | % | 20.7% | 19.3% | 19.3% | 17.8% | 17.3% | ||||||||||||||||
| Mexico | % | 3.44% | 4.75% | 7.33% | 8.04% | 8.43% | ||||||||||||||||
| Nicaragua | % | 12.1% | 11.4% | 10.8% | 10.9% | 12.5% | ||||||||||||||||
| Panama | % | 6.50% | 6.60% | 6.77% | 6.88% | 7.09% | ||||||||||||||||
| Peru | % | 16.1% | 16.5% | 16.8% | 14.5% | 14.4% | ||||||||||||||||
| USA | % | 3.26% | 3.51% | 4.10% | 4.90% | 5.28% | ||||||||||||||||
| Venezuela | % | 19.4% | 20.8% | 21.1% | ... | ... | ... | ... |
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