Obama: 'My friend' Clinton would make 'excellent president'

President Obama didn't exactly endorse Hillary Clinton this weekend, but he made clear he thinks highly of his former secretary of State.

"She was a formidable candidate in 2008," Obama told reporters in Panama. "She was a great supporter of mine in the general election. She was an outstanding secretary of State. She is my friend. I think she would be an excellent president."

Obama held off on a formal endorsement -- other Democrats may challenge Clinton, including Vice President Biden. He said, "I'm not on the ballot, so I'm not going to step on her lines."

As Clinton and aides decide how much of a role they may want Obama to play in her campaign, the incumbent president made clear he believes he has provided a good record to build on.

"In terms of her relationship with my administration, she was focused and working on really important foreign policy initiatives," Obama said of Clinton. "And the one thing I can say is that she’s going to be able to handle herself very well in any conversations or debates around foreign policy."

As for domestic policy, Obama that Clinton's "track record" is one that "cares about working families."

He added: "If she decides to run and she makes an announcement, she’s going to have some strong messages to deliver."