Statement:
In Panama the corruption level is higher than in Armenia

In the Corruption Perceptions rating Panama holds position #42 ²⁰²¹ out of 178 and Armenia is #29 out of 178 ²⁰²¹.
Position of Panama is worse than position of Armenia.

Referencies:

1. Corruption Perceptions ²⁰²¹ by Transparency International

   The countries in the rating sorted by 'Score' in descending order.

   Armenia	'Score' value is	49
   Panama	'Score' value is	36