Category Archives: Politics

How much Political experience does President Martinelli actually have?

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He’s a businessman right? How is he faring politically?

Although President Martinelli is a businessman by trade, this is definitely not his first political stint: he was Panama’s Director of Social Security (1994-96), both Minister for Canal Affairs and Chairman of the Board of Directors for the Panama Canal under President Mireya Moscoso (1999-2003), and the president of the country’s Democratic Change party, a fairly new political party founded in 1998.  He also ran for the presidency in 2004, but came in with only about 5% of the vote.  He came back stronger in 2009, promising the Panamanian people he would crack down on violent crime.  On top of all that, he’s quite the philanthropist.  As the founder of “The Ricardo Martinelli Foundation” President Martinelli gives over 8000 scholarships annually.  The scholarships are granted to lower-income children with high scholastic achievement.

Is Panama a democratic country?

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Do they hold democratic elections in Panama? And is it a president or a prime minister?

Panama is indeed a democratic republic, with a president elected by popular vote, unlike the US’s electoral college system.  The Panamanian president is both head of state and head of government.  The president is elected for a five-year term, and can’t serve two consecutive terms; rather he/she must wait at least two terms, before running for re-election.  Panama is also one of the few democracies in the world to have elected a woman president (Mireya Moscosa, 1999-2004).

Who is the current president of Panama?

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And when did he assume office?

Ricardo Alberto Martinelli Berrocal, is the 49th President of the Republic of Panama.  President Martinelli, 57, is a Panamanian businessman who made his fortune with one of the country’s biggest supermarket chains, Panama’s Super 99.  He chairs two other companies and is a board member on another eight.  President Martinelli assumed the presidential office July 1, 2009 and is set to serve a five-year term.  On a personal level, President Martinelli was born in Panama City, educated at the University of Arkansas, in the United States, and is married with three children.

What’s the state of Panama’s trade agreement with the US?

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President Obama’s State of the Union address mentioned Panama

Answer: As of right now, both countries have signed the Trade Promotion Agreement, also called a Free Trade Agreement (FTA).  That signing took place during President George W. Bush’s second term in 2007.  It’s now 2010, however, and while Panama approved the TPA shortly after signing it, the US has not yet approved the agreement, which is listed as “pending congressional approval”.  The good thing is, last week during the State of the Union address, President Obama spoke favorably of new international markets, of the need to aggressively go after them during turbulent economic times.  He said, “If America sits on the sidelines while other nations sign trade deals, we will lose the chance to create jobs on our shores.”  President Obama highlights strengthening trade relations with “South Korea, Panama and Colombia”—countries he refers to as “key partners”.  The United States Trade Representative (USTR) is currently addressing some of the outstanding issues of the FTA, like tax and labor policies.

What would be an immediate benefit to the US in implementing the Free Trade Agreement with Panama?

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Who will get the better end of the deal – small businesses, big corporations?

Answer: It’s just a matter of time before President Obama drives home Panama’s free trade agreement.  It will, of course, immediately increase jobs and assure uninhibited economic activity between the two nations.  The biggest card in the deck of this agreement, so to speak, is the expansion of the Panama Canal.  Projected at $5.25 billion, the expansion project offers a wealth of contracts for qualified bidders; the US could easily supply Panama with skilled labor and technology.  Undoubtedly, this would be one of President Obama’s more solid first-term accomplishments on the international stage.

 

How close was Panama’s last Presidential race?

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I heard it was by a landslide, does anyone know how close it actually was?

President Martinelli easily beat out Balbina Herrera in the 2009 elections, getting more than 60% of the votes cast, compared to her 36%—it was the biggest margin since the late ‘80s.  It is estimated President Martinelli’s presidential campaign cost about $35 million.  After winning the election, President Martinelli said he would defend an “economía libre” (free economy), including trade agreements with the United States, making Panama “el mejor lugar de Latinoamérica para hacer negocios” (the best Latin American country in which to do business).

Panama Economy At A Glance 2009

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In times of global uncertainty, the economic outlooks of most countries are often conservative at best, but economists and investors are now looking to the bright prospects in Panama.

Eco-tourism, real estate, banking, international shipping and the world’s second largest free trade zone mean big business flows through the isthmus.  Always a strong economy in Latin America, with low inflation (thanks to a US dollar currency), a stable democracy and key geographical position, it is now poised to become a powerhouse player in the region.

In fact, the International Monetary Fund predicts Panama is set to grow more than any other Latin American country this year.

Big Business:

  • Eco-Tourism
  • Real Estate
  • International shipping
  • Colon Free Trade Zone
  • Banking

Economic Factors:

  • US dollar economy
  • Low inflation
  • Panama Canal
  • Steady GDP growth

Future Projects:

  • Panama Canal Expansion Plan
  • Free Trade Agreement with US
  • $6 billion regional refinery
  • 14 thermal and hydroelectric plants

Panama has for some time now been in a privileged position, not just in Central America, but in the western hemisphere.  The Panama Canal, built at the start of the 20th century, turned this tiny tropical haven into a major shipping hub for the world’s ocean trade.

With the Canal came foreign business and residents, infusing the sleepy paradise with a new energy and bringing the momentum of modernization.  Today, Panama is set to take another momentous step into a new chapter of its history.

Tourism now stands as country’s top sources of income, receiving more than 700,000 visitors annually to its pristine beaches, vibrant rainforests and cosmopolitan capital city.

The influx of visitors has also brought with it a boom in construction— hotels, condominiums, resort complexes and peripheral services such as restaurants and shops, are springing up along the country’s famous coasts and in Panama City in particular.

The Panama Canal itself will receive a $5 billion upgrade in the coming years, promising to create up to 50,000 new jobs in the region, as well as ensuring the Canal’s competitiveness in world shipping for years to come.  In fact, analysts predict the expanded canal will directly account for doubling the country’s gross domestic product (GDP) by 2025, and increase business investment in the Canal Zone by 40 per cent.

New projects to further stimulate the economy include a free trade agreement with the United States, currently in negotiation, the recent announcement by Occidental of a $6 billion regional refinery, and 14 new thermal and hydroelectric plants.

These factors and more, have given Panama a unique position in the Latin American world — as a economy growth leader and a stable, thriving market for business and investment.