Few random data points re Panama banks:

- Two banks I know of are no longer giving loans, even for homes
- One bank a real estate customer of mine was unable to withdraw his $10k CD from a Panamanian bank
- Have seen very long lines around banks in recent weeks

Panama doesn't have a central bank, doesn't have access to short term bandaids that US / Europe does. From businesses to banks to government, the economy here I find tends to run more rationally on fundamentals.

Fundamentals are not good right now.

Interest rates here are spiking on both sides. Seeing 18 month CDs at 4.5%. 5 year CDs as high as 6%.

Business and government loan rates at one of the better capitalized banks is up to 13%. Home loan rates at this same bank are 6-7.5%.

Canary in coal mine is NOT happy.

Across every bank I've looked at in Panama:

- Much higher rates across all loan products (Auto loans as high as 20%, real estate loans as high as 13%)
- Big promotional rates on short term CDs

Every bank I've personally contacted is not currently lending money out.

It's a bit different in Chiriqui (lots of equity), but have data that indicates market in Panama City may be in the process of crashing. Many owners lowering prices towards cost of their mortgage obligations.

Panama real estate market highly cyclical. Maybe good deals coming.

Called another bank (third bank) to ask about loans. They are not currently offering ANY type of credit, but are offering 3.5% on savings accounts and 4.5% on an 18 month CD.

The fact that a bank is under no circumstances offering credit to me says that things are VERY shaky.

Called a fourth bank. Private investment bank with $500k minimum deposit for new customers. Bank says right now they aren't offering any type of credit to new customers, only to their existing clients.

Even the strongest players (banking for the wealthy) seem to be struggling.