Martinelli: Stepping on the Gas

"We do make decisions. That's the difference between corporate governance and political government. If we are wrong, perfect, we go back and go again. "

Monday, November 15, 2010

América Economía interviewed Panamanian President Ricardo Martinelli, revealing the unique personality of the man who is leading a revolution in the country.

"This is not a political government, it is handled with a business vision, something never seen before in the history of Panama, in Latin American or the world," says Martinelli, and defines what that vision means: "build teams, set goals and make decisions."

An investment program of U.S. $ 13,500 million, designed with advice from consultants McKinsey, adds to the investment already underway to expand the Canal, raising more than $ 20,000 million cash flow in an economy that still maintains 33% of its population in poverty. Another milestone Martinelli´s government accomplished is the tax reform, which would have hardly succeeded if the president was not an entrepreneur, "If Martinelli wasn´t a business man, surely would have said that we are going to the left," according to Roberto Alfaro, a former minister and diplomat.

On the other hand, the momentum and speed in which Martinelli wants to change Panama into a modern economy, conflicts with unions and political institutions of the country, but despite this he has maintained high public approval ratings.

More on this topic

Three Years of Martinelli Government

July 2012

In his report to the nation, the President of Panama, Ricardo Martinelli, recounts his actions in the government.

A statement from the Presidency of Panama:

Report to the Nation

When I started to serve the people of Panama, three years ago, the world's economy was in a great crisis. All recovery predictions failed and today the world economy is worse.

New Economy Minister in Panama

October 2011

Frank De Lima, who until now has been the vice minister, will replace retiring Alberto Vallarino, and will continue with the current economic policy, according to President Martinelli.

The breakdown of the alliance between the Panamanian Party of Vice President Juan Carlos Varela and President Martinelli’s Democratic Change Party, caused the resignation of Economy and Finance Minister Alberto Vallarino and others in prominent government positions.

Panama: Still No Substitute for Vallarino

September 2011

The resignation of the Minister of Economy and Finance has caused global concern about the stability of the country's economic direction.

The recent rupture of the alliance between the ruling Democratic Change party and the Panameñista party following the dismissal as Foreign Minister of Juan Carlos Varela, Vice President and President of the Panamanian Party, sparked a series of immediate resignations, including that of the Minister of Economy and Finance, Alberto Vallarino.

$150 Million for Panama

July 2009

The World Bank funds were granted for the current fiscal year, from July 30 to June 2010.

"Panama is an important partner. We reiterate our support to its government's agenda and our commitment to analyze cooperation opportunities in the future" said Pamela Cox, World Bank Vice President for Latin America and the Caribbean, who met with Panamanian president Ricardo Martinelli and his Economy and Finance Minister, Alberto Vallarino.

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