In Panama, a bill is planned to convert the provinces of Los Santos and Herrera into a Special Economic Zone, which will offer tax and labor incentives to companies in the agricultural sector that decide to invest in the area.
Representative Julio Mendoza, of the Democratic Revolutionary Party, announced that in the coming weeks he will present a bill to the Assembly to create the Special Economic Zone of Azuero.
Both Citibank and Banco Nacional de Panamá have closed accounts belonging to the Democratic Change Party, founded by former President Ricardo Martinelli.
In what appears to be a reaction to the scandals caused by the allegations of corruption on the part of members of the previous administration, Citibank and Banco Nacional have stopped attending to the accounts where the Democratic Party's administrators deposited money coming mainly from electoral subsidy.
The three presidential candidates at the top of the polls say they will not propose tax reforms during their tenure.
Capital.com.pa reports that "The issue was discussed at the last forum organized by the Panamanian Association of Business Executives (APEDA), which evaluated the economic and fiscal impact of electoral promises."
Jose Domingo Arias (Democratic Change), Juan Carlos Navarro (Democratic Revolutionary Party), and Juan Carlos Varela (Panamanian Party) are the three candidates for the Presidency of Panama that have the highest chance of winning, according to polls. The three "... assure that they will not impose new taxes."
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.
The opposition Alliance for Change candidate was elected the next president of Panama by a wide margin.
With 91% of the polling stations having been examined, Ricardo Martinelli had obtained 60.31% of the votes, followed by the official candidate of the Democratic Revolutionary Party (PRD), Balbina Herrera, who had accumulated 37.33% and Guillermo Endara, who had received 2.35%.
The period for electoral propaganda ends today, just three days from the May 3 elections.
Panamanians will elect the successor to current President Martín Torrijos for the period 2009-2014.
Prensa.com reported: "The candidates for the Presidential Seat are: Ricardo Martinelli of the opposition Alliance for Change, the official candidate of the Democratic Revolutionary Party (PRD), Balbina Herrera and former president Guillermo Endara, of Moral Vanguard for the Country (VMP)."
For whoever wins the elections on May 3, the main challenge will be to maintain the economic growth that has averaged 8% annually in recent years.
Both the PRD (the Democratic Revolutionary Party, plus the Liberal Party and the People's Party) and Alianza para el Cambio (Democratic Change, the Patriotic Union, the Panamanian Party and Molirena), propose the continuation of the current macro-economic direction of the country, giving continuity to many of the programs conducted by the government of Martín Torrijos.
A conservative businessman of the Democratic Change (CD) party could become the next president of Panama.
According to a poll by Unimer published in La Prensa, 36.2 per cent of respondents would vote for Ricardo Martinelli in next year’s election, up 3.8 points since October.
Balbina Herrera of the governing Revolutionary Democratic Party (PRD) is second with 30.8 per cent, followed by Juan Carlos Varela of the Panameñista Party (PPA) with 15.1 per cent, and former president Guillermo Endara of the Moral Vanguard of the Homeland (VMP) with 3.5 per cent.
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