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Conservative supermarket tycoon wins Panama vote
PANAMA CITY - Panamanians elected a conservative, pro-business candidate as their new president Sunday signaling their hope for a new alternative as the Central American nation's once-booming economy cools. According to preliminary results released by Panama's electoral tribunal, Ricardo Martinelli of the Democratic Change party, easily won the election with about 60 percent support. He beat Balbina Herrera, the candidate of the ruling Democratic Revolutionary Party (PRD), as well as former president Guillermo Endara, who lagged far behind.Voters say they were attracted to Mr. Martinelli, because they perceive him as outside the traditional political system that has dominated Panamanian politics since the US invasion of 1989 that dismantled the dictatorship of Manuel Noriega. They also express hope that the supermarket tycoon will bring his business savvy to the chief-of-staff post and help Panama weather the worldwide economic crisis. Panama's economy grew at 9.2 percent last year, one of the highest rates in the world. But it expected to slow dramatically to 3.2 percent this year. "You won't see the same dynamism," says Felipe Chapman, an economist in Panama City. "It will challenge the next government." Posted by: Steve White 2009-05-04 |
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