Colombia vs Panama: Government debt

Government debt in 2025: 59.9% of GDP in Colombia and 56.6% of GDP in Panama, by IMF estimates. In 2025 the value was higher in Colombia, by 3.3 percentage points, or 1.06 times that in Panama.

Watch it change on the map

% of GDP · IMF

ColombiaPanamaIMF projection (World Economic Outlook, October 2026)

What the numbers say

Colombia has been higher since 2012, when it overtook Panama.
In 2025, Colombia ranked 56 and Panama ranked 65 of 149 countries, counting from the highest.
The IMF projection (World Economic Outlook, October 2026) puts Colombia at 65.3% of GDP and Panama at 49.6% of GDP in 2031.

Every year

% of GDP · IMF

Year	Colombia	Panama
2025	59.9	56.6
2024	61	57.8
2023	55.4	54.4
2022	61.3	56.2
2021	64.4	58
2020	65.3	62.4
2019	51	42.5
2018	51.8	36.3
2017	49.5	34.3
2016	49.9	34
2015	50.4	34.1
2014	43.3	33
2013	37.6	30.8
2012	34	31.3
2011	35.8	35.9
2010	36.5	38.5
2009	35.4	39.5
2008	32.4	40.6
2007	32.7	48.2
2006	36	56.1
2005	38.5	61.6
2004	41.5	61.6
2003	45	59.9
2002	47.6	60.9
2001	41.1	62.1
2000	38	58
1999	34	60.4
1998	27.5	64.3
1997	25.3	67.3
1996	23.3	73.6
1995	–	86.8
1994	–	88.7

IMF projection (World Economic Outlook, October 2026) · 2026–2031

Year	Colombia	Panama
2026	59.5	56.4
2027	62.9	55.9
2028	65.1	54.9
2029	65.9	53.5
2030	65.7	51.6
2031	65.3	49.6

Each country on its own

Good to know

What the government owes, as a share of the economy’s yearly output.
Source: IMF, World Economic Outlook, October 2026.
The dashed line is the IMF projection (World Economic Outlook, October 2026), a scenario rather than a forecast.
Ranks count the 149 countries with a value in 2025, highest first.

How the layers work, where their data comes from and what they can’t tell you: Countries through time

Colombia vs Panama: Government debt

What the numbers say

Every year

Each country on its own

Good to know

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