Still early, but so far local news does not look especially bad:

https://www.telemetro.com/nacionales/asi-se-vivio-el-fuerte-...

Looking at the PAGER info, it looks like it was pretty far from the largest cities and only affected them, and Panama City in particular, minimally, which will limit the impact quite a bit.

https://earthquake.usgs.gov/earthquakes/eventpage/us6000u18k...

Looks like it was centered away from densely populated areas. Still pretty big.