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After the Election 2024


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Legislative Seats and Deputies for the Next Five Years

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 Posted 07/05/2024

The 71 legislative seats are dominated by 21 deputies elected by the Free Nomination, 13 official deputies from the Realizing Goals party (RM), followed by 12 deputies from the Democratic Revolutionary Party (PRD), 8 deputies from the Panameñista Party and 8 from the Democratic Change (CD), 4 from the Otro Camino Movement (Moca), 2 from the Alianza Party and 1 from the Nationalist Republican Liberal Movement (Molirena). 

PRD, CD and Panameñistas suffered a spectacular defeat.  The PRD standard bearer, José Gabriel Carrizo, vice president of the current government, only achieved 5.8% of the valid votes, the lowest percentage in history for a PRD candidate, to no one’s surprise, except perhaps his own.

https://www.newsroompanama.com/news/legislative-seats-and-deputies-for-the-next-five-years

 
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Congratulatory Messages from Country Leaders Pour into Panama

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Posted 06/05/2024

José Raúl Mulino, president-elect of Panama, continues to receive congratulatory messages from world leaders and leaders of the region, who have also expressed their desire to strengthen joint work.  This Monday, Javier Milei, president of Argentina, congratulated the people and government of the Republic of Panama on the election day of May 5. "My congratulations and greetings to the president-elect, José Raúl Mulino. We will continue working to strengthen the ties of friendship and cooperation between our nations," he said.  Likewise, the president of Honduras, Xiomara Castro, congratulated Raúl Mulino, candidate of Realizing Goals and Alliance.  “I recognize in the people of Panama their democratic vocation, their electoral process and their decision expressed at the polls, electing José Raúl Mulino as the new president, whom we congratulate for his victory.” Castro published on his official account on the social network.  https://apnews.com/video/panama-ricardo-martinelli-a5cdb48ea6ef4cdf883fe87252e9497a

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https://www.newsroompanama.com/news/congratulatory-messages-from-country-leaders-pour-into-panama

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The President of Panama Meets with President Elect Mulino for Talks

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Posted 07/05/2024

The President of the Republic, Laurentino Cortizo Cohen, a political centrist (centrism is a political position opposing political changes that would result in a significant shift of society strongly to the left or the right), and the elected president, José Raúl Mulino who is considered to be right wing, met at the Presidential Palace to begin the transition process towards the new government that will take office on the first of July 2024.  During the meeting, both leaders discussed issues of national relevance and laid the foundations for an orderly and transparent transition of the National Government. 

Cortizo, of the Democratic Revolutionary Party or PRD highlighted that one of the main purposes of the meeting was to personally congratulate the president-elect on his victory in the recent elections and to begin coordinating the transition process.  President-elect Mulino thanked Cortizo for the meeting, highlighting its importance in consolidating democracy in Panama. He stressed the need for a fluid and transparent transition, essential to understand the true situation of the country on critical issues. The PRD ran again in the past election and to no one's surprise, standard bearer, José Gabriel Carrizo only achieved 5.8% of the valid votes, the lowest percentage in history for a PRD candidate.

https://www.newsroompanama.com/news/the-president-of-panama-meets-with-president-elect-mulino-for-talks

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US Embassy Spokesperson Speaks with President Elect Mulino

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Posted 08/05/2024

Through a statement, the United States Embassy in Panama reported that the Secretary of State, Antony J. Blinken, held a telephone conversation Tuesday, May 7, with the president-elect of Panama, José Raúl Mulino.  According to the embassy, Secretary Blinken and Mulino spoke about the importance of working together to manage the immigration issue in a safe and humane manner.  Secretary Blinken highlighted the United States' strong support for Panama's efforts to combat corruption and organized crime. 

https://www.newsroompanama.com/news/us-embassy-spokesperson-speaks-with-president-elect-mulino

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José Raúl Mulino Officially Proclaimed President of Panama

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Posted 09/05/2024

José Raúl Mulino was proclaimed May 9 of 2024, as elected president of the Republic for the period 2024-2029, after managing to win the general elections with 778,763 votes, which represents 34.23% of those who participated.  
 
After his proclamation as president of Panama for the period 2024-2029, José Raúl Mulino began to build bridges to the independent group that has 20 deputies in the National Assembly, a force that he considers the “true opposition.”  For now, the National Assembly is made up of 20 independent deputies, 14 from the Realizing Goals party, which led Mulino to the presidency, 13 from the Democratic Revolutionary Party, 8 from the Panameñista Party, 8 from Cambio Democratico; 3 of the Another Path Movement; 2 from the Popular Party; 2 Alliance; and 1 from the Nationalist Republican Liberal Movement. 

During his speech, he also referred to the migration that, for the most part, enters through the Darién border, an odyssey that, in his opinion, has no reason to exist. “Darién is not a transit route, it is our border,” therefore, he stated that he has already begun to speak to begin a repatriation process with respect for human rights. Here, whoever arrives will be returned to his country.”  Regarding his political adversaries, he stated that they will meet in the Presidency of the Republic after July 1. His meetings, he assured, will be “public.”

https://www.newsroompanama.com/news/jose-raul-mulino-officially-proclaimed-president-of-panama

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Mulino on Business and Investment in Panama

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Posted 12/05/2024

Just in case you missed it.  Panama elected the former security minister José Raúl Mulino as our next president in Panama, a former security minister, who just emerged from a chaotic campaign.  Mulino, who won 34.3% of the vote, pledges to welcome business and investment without forgetting ‘those who are hungry’.  Amid record turnout, Mulino won 34.3% of the vote, followed by lawyer Ricardo Lombana with 24.8% and former president Martín Torrijos at 16%.  José Raúl Mulino who was Ricardo Martinelli’s vice presidential candidate, only became the presidential candidate in February when he stepped in to replace Ricardo, who took refuge in the Nicaraguan embassy in Panama City after local courts ratified his sentence for money laundering and took away his ability to run for President.  Mulino himself was at risk of being disqualified by the Supreme Court until just two days before the vote, because he assumed the candidacy without going through party primaries. 

In his victory speech, Mulino said his government would welcome business and investment without forgetting “those in need of drinking water across the country”.  “In spite of everything they did to me during the campaign, I won’t take a drop of vengeance against anyone,” he added, before declaring the end of “political persecution” in the country.  The election took place in the shadow of Martinelli, whose popularity despite his conviction for money laundering reflects both the political outsider status he has cultivated and the fact that Panama saw formidable economic growth during his presidency from 2009 to 2014.  The fact that Panama is facing an economic slowdown made the memory of Martinelli’s presidency all the more powerful.  Mulino will have to build a majority through coalitions as he attempts to address the economy, and historic levels of US-bound migration through the Daríen Gap.  Martinelli celebrated the victory with a selfie posted on Instagram from the Nicaraguan embassy: “The face of a happy man,” he wrote.el-loco.jpg

https://www.newsroompanama.com/news/mulino-on-business-and-investment-in-panama

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Jackeline Muñoz - Minister of Labor and Labor Development

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 Posted 15/05/2024

Jackeline Muñoz de Cedeño will be the Minister of Labor and Labor Development of the new government of José Raúl Mulino Muñoz. She is a current representative of the Central American Parliament, and is the vice president and administrator of the Alianza party, a group founded by her father, former representative José Muñoz Molina.  The Alianza and the Realizing Goals (RM) party nominated Ricardo Martinelli for the presidency of the Republic, but after the former president of the Republic was disqualified, Mulino took over the candidacy.  In the elections on May 5, Muñoz was the running mate of Sergio Chello Gálvez, in his attempt to become Mayor of Panama, a position that Mayer Mizrachi won, nominated by the Popular Party.  Among the tasks of the Ministry of Labor and Labor Development (Mitradel), a portfolio currently in the hands of Doris Zapata, is projecting, promoting, regulating, managing and executing the labor administration system, and establishing the national labor policy, according to information on the Mitradel digital site.

https://www.newsroompanama.com/news/jackeline-munoz-minister-of-labor-and-labor-development

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Frank Ábrego Ministry of Security - Close the Darién

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Posted 15/05/2024
 

Frank Ábrego, 61 years old, will be the head of the Public Security portfolio of the government of José Raúl Mulino.  Ábrego was the first director of the National Border Service (Senafront), a position he held until 2016. Before assuming command of Senafront, he worked in the Metropolitan Directorate of the National Police, but before that he was in the Defense Forces. He entered there in 1986, a year after graduating from the General Francisco Morazán military school, in Honduras.  The Ministry of Public Security is currently headed by Juan Manuel Pino. For 2024, a budget of $946,109,041 was assigned to this portfolio. In addition to Senafront, this institution houses the National Police, the National Aeronaval Service, the National Immigration Service, and Sume 911, among other entities.  One of the biggest challenges that Ábrego will have in this portfolio will be to face the migration crisis in the Darién, especially with Mulino's promise to “close” the border to prevent the passage of thousands of people who cross the jungle to reach Panama and then embark on the route to the United States. According to data from the National Immigration Service, as of Thursday, May 9, nearly 150,000 irregular migrants had entered the country through this route this year.  “We are going to close Darién and we are going to repatriate all these people accordingly, respecting human rights,” Mulino said in the midst of the political campaign for May 5.

https://www.newsroompanama.com/news/frank-abrego-ministry-of-security-close-the-darien

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Juan Carlos Navarro - Minister of the Environment

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Posted 15/05/2024

Juan Carlos Navarro, a familiar face, defeated twice as a Presidential candidate in 2009 and 2014, politician, businessman and environmentalist, will be the Minister of the Environment in the Government of José Raúl Mulino, which will begin next July 1.  Navarro earned his bachelor's degree in Geography and Government from Dartmouth College in 1983 and completed a master's degree in Public Policy at Harvard University in 1985.  That same year he founded the National Association for Nature Conservation (ANCON), being its first executive director. Subsequently, he was elected Mayor of Panama (1999-2004) and re-elected with 60% of the votes in 2004 (2004-2009).  In 2009 he was the running mate of Balbina Herrera, presidential candidate for the Democratic Revolutionary Party (PRD) in the general elections, but they were defeated by Ricardo Martinelli. 

Then, in 2014, he became the presidential candidate of that same political party and suffered the same fate against Juan Carlos Varela.  He is the founder and CEO of the National Solar Energy Company, SA, NSolar, and is also the founding president of the Panamanian Chamber of Solar Energy.  The Ministry of the Environment is one of the institutions responsible for the closure of the mine in Donoso, province of Colón. In fact, last year Navarro spoke out against the mining contract.  “All our support to the citizens, environmental groups and organizations that call for a peaceful protest today in front of the National Assembly in rejection of the mining contract. We must all reject an unconstitutional and illegal contract, which seeks to destroy our natural heritage, through destructive and disastrous open pit mining without any control or supervision,” Navarro said on his social networks.

https://www.newsroompanama.com/news/juan-carlos-navarro-minister-of-the-environment

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Javier Martínez Acha - Minister of Foreign Affairs

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Posted 15/05/2024

Javier Martínez Acha, a 60-year-old lawyer and economist, will be the Minister of Foreign Affairs of the government of José Raúl Mulino, who assumes the presidency of the Republic on July 1.  Martínez Acha has a bachelor's degree in industrial engineering and economic sciences from Texas A&M University; In addition, he is a lawyer specializing in financial and banking law, international and corporate law and general manager and advisor to the board of directors of the firm Geneva Asset Management, SA.  Geneva Asset Management was founded by Acha, Joaquín De la Guardia and West Valdés. Valdés eventually left and founded his own brokerage house, the now-defunct Financial Pacific.  In his X account, he presents himself as Panamanian, social democrat and member of the Democratic Revolutionary Party (PRD). At the time when former capital mayor Juan Carlos Navarro led the National Executive Committee (CEN) of the PRD, Martínez Acha was the first undersecretary of that party.  During the government of Martin Torrijos (2004-2009), he was secretary of the National Security Council. Martínez Acha and Torrijos are compadres, since he is the godfather of Daniela, Torrijos's first-born daughter.  His family owns the Casa del Marisco restaurant, so it is common to see him there and share a table with figures from political events.  Among the challenges of the foreign relations portfolio is strengthening the country's strategy to address migratory flows through Darién, consolidating the diplomatic career, managing its strategic position as a logistics and financial center, and diversifying its commercial and diplomatic relations, seeking a balance between the interests of global powers such as the United States and China as well as the defense of their interests in international forums.

https://www.newsroompanama.com/news/javier-martinez-acha-minister-of-foreign-affairs

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Fernando Boyd - Minister of Health

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Posted 15/05/2024

Fernando Boyd, doctor of dental surgery and specialist in periodontics, will be the Fernando Boyd in the Government of José Raúl Mulino, which will begin on July 1.  Boyd graduated as a doctor of dental surgery from the University of Panama in 1979 and as a specialist in periodontology from the University of Pennsylvania, United States, in 1983.  Since 2007, he has been practicing as a periodontist at the Arango Orillac Clinic.  In addition, he was a professor of Oral Histology and Periodontics at the Faculty of Dentistry of the University of Panama between 1984 and 1998.  He is a member of the Panamanian Dental Association, of which he was president from 1987 to 1988, as well as president of the Board of Directors of the Social Security Fund from 1990 to 1996

https://www.newsroompanama.com/news/fernando-boyd-minister-of-health

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José Ramón Icaza - Minister of the Panama Canal

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 Posted 15/05/2024

José Ramón Icaza is chosen by the president-elect, José Raúl Mulino, to occupy the position of minister of the Panama Canal. He would also be in charge of leading the logistics cabinet, an entity in charge of ensuring public-private dialogue to facilitate maritime and land transportation, interoperability and digitalization of the State.  As Minister of the Canal, he will be a key player between the waterway and the Executive to make decisions regarding the execution of a water project that guarantees water for human consumption and the passage of ships.  Mulino has not officially revealed the members of his cabinet, but the names of several ministers are beginning to be known. It is expected that they will be chosen before June 1, so that they can face the transition process. 

Icaza was president of the Chamber of Commerce, in the period 2021-2022, right in the middle of the crisis left by the blockade of the economy due to covid-19.  He has been part of the team that led the Gana Panamá alliance, which brings together more than 150 organizations, which presented a comprehensive plan to address challenges such as educational improvement, security, employment, economy and health.  Icaza highlighted, at the time that this roadmap would serve to guide the actions of the next Government.  He is a civil engineer, with a master's degree in construction project management and finance.  On the other hand, he is the owner and general manager of Proyectos Mar Azul, with operations in Panama and Colombia. This consulting firm specializes in construction project management in the residential, commercial and tourism sectors.  He participated in the discussion of the public-private partnership law, the money laundering law and the project that modified the standard and regulation of horizontal property.  On May 8, through his X account, he congratulated the elected authorities, indicating that it was time to unite to take advantage of the opportunities as a country.

https://www.newsroompanama.com/news/jose-ramon-icaza-minister-of-the-panama-canal

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Felipe Chapman - Ministry of Economy and Finance (MEF)

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Posted 15/05/2024

Panamanian Bonds Rise As Soon As The Market Finds Out About The Appointment of Felipe Chapman. 

The market reacted to the appointment of Felipe Chapman to the Ministry of Economy and Finance (MEF).  Bloomberg reported that Panamanian sovereign bonds registered increases this Wednesday, May 15, above most of their emerging market peers, after President-elect José Raúl Mulino appointed the economist in charge of directing the country's economic policy, which includes debt management.  Chapman has the track record, knowledge and ability to take the reins of the ministry. He is a highly respected person in the sector who is very clear about the country's economy.  Risk rating agencies, multilaterals, investors and businessmen know their trajectory, and that is why the markets have reacted positively to the bonds. 

The price of bonds is inversely proportional to the yield, if prices go up, rates go down.  If rates go down, the cost of financing for the country decreases. This is reflected equally in the cost of financing for banks and finally for consumers.  Bonds due in 2057, for example, rose 1.6 percentage points to 104.4, according to Bloomberg's compilation. The appointment of Felipe Chapman, as Minister of Economy and Finance, is positive, since he comes from the business sector and is expected to support market-friendly initiatives,” William Snead, an analyst at BBVA in New York, told Bloomberg.  However, the analyst also recognized that the Mulino administration, which was elected with 34.2% of the votes, will have significant challenges given the fragmentation of the National Assembly, which complicates the approval of laws, including those of macroeconomic cut.

https://www.newsroompanama.com/news/felipe-chapman-ministry-of-economy-and-finance-mef

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