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Rocky, perhaps, but ready for Panamanian (6)

Ross

I believe the answer is:

balboa

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'rocky perhaps but ready for panamanian' is the definition.
Although both the answer and definition are singular nouns, I cannot see how they can define each other.

This is the entire clue.

Can you help me to learn more?

(Another definition for balboa that I've seen is " Panamanian port named after Spanish explorer".)

I've seen this clue in The Telegraph.
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