Recent analysis by the Central American Institute for Fiscal Studies (Icefi) reflects very different fiscal situations in each country.

An article in Prensalibre.com states that "data from the report indicates that the country with the greatest debt is El Salvador, as in 2011 it reached 50% of GDP, in 2012 it increased to 52% and it is expected to reach about 54% in 2013.

It is followed by Costa Rica, whose debt rose from 34% in 2011 to about 39% in 2013; Honduras, where it moved from 32% to 38% compared the same period and Guatemala, where it has remained stable at around 25%. "

On the other hand, "Panama 's debt has been reduced in the last three years from 39% of GDP to 37%, while Nicaragua's dropped from 53% to 42% from 2011 to 2013."

Source: prensalibre.com