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.
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.
The Chamber of Commerce, Industries and Agriculture has again called for consideration of the effects that partisan conflict could have on the country's economic activity.
The rupture of the alliance between Martinelli’s Democratic Change party and the Panamanian Party, caused by the dismissal as Foreign Minister of Juan Carlos Varela , Vice President of the Republic and President of the Panamanian Party, sparked a series of immediate resignations of other main figures in the administration. Among those resigning are the Minister of Finance, Alberto Vallarino, whose departure from government may create uncertainty about the continuation of the country’s current economic policy.
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