- Get link
- Other Apps
By Scott Morgan
On Sunday, the 5th of May, the people of Panama went to the polls to decide who would be their next President. Laurentino Cortizo of the Democratic Revolutionary Party was victorious in what was a closely contended race. However, there were several interesting takeaways from the polls.
First of all, was just how close the polls were. It was expected that the Democratic Revolutionary Party (PRD) would thrive during this past election cycle. There were a total of seven candidates for President of which three of them were first time candidates after recent changes to the electoral system. This presented an opportunity which if Mr Cortizo had actually been able to consolidate his base he could have cruised to an easy victory. He was barely able to do so and collected just 33% of the vote.
What has to be considered a surprise was the strong showing of the Democratic Change Party. Its candidate Rómulo Roux was able to garner 31% of the vote. This came despite a huge blow delivered to the party when the electoral tribunal banned former President Martinelli from running for mayor of Panama City and from the National Assembly - in a ruling that was at best shady. Mr. Martinelli was certified on more than one occasion for meeting the requirement to be a legal candidate prior to the abrupt denial. The perception of Mr. Martinelli being treated unfairly during his trial was a factor in the surprise strong showing of the Roux Campaign.
The closeness of the vote suggests that the electorate is far from apathetic when it comes to their democracy. Another interesting fact that supports this is the fact that during the last six Presidential Polls going back to 1990 the incumbent party has failed to win Reelection. This trend actually played out again during these polls.
Income inequality is a rising concern as the gap between the haves and the have-nots continues to widen. Corruption has been endemic in the nation’s history as well and it needs to be addressed. The actions of the failed law firm Mossack Fonseca - showing how Panama is an offshore tax haven - contributed to an image that most likely will take some time for the country to recover from.
While the GDP growth of between 4 and 5% expected during this cycle, it shows that the Panamanian Economy is the fast growing in the hemisphere. However, that has not translated well to the middle class of the country which has been losing ground in term of both wage growth and in the purchasing power of the Balboa over recent years. They are not pleased with what has transpired either.
However, what could be the major challenge of the Cortizo Administration could be its role in a future superpower brinkmanship between China and the United States. Panama is one nation which has seen an increase in what is considered to be “debt-trap” investments from China. President Cortizo has stated that he welcomes the new relationship with China but he does not want one at the expense of the traditional ally that Panama has had since it gained independence from Colombia back in 1903. That would be the United States. How he manages this could in fact be the toughest challenge for Cortizo.
[The views expressed in this publication are solely those of the author(s) and do not necessarily reflect the views of Dissecting Society™ . © 2007-2019 Author(s) ALL RIGHTS RESERVED]
First of all, was just how close the polls were. It was expected that the Democratic Revolutionary Party (PRD) would thrive during this past election cycle. There were a total of seven candidates for President of which three of them were first time candidates after recent changes to the electoral system. This presented an opportunity which if Mr Cortizo had actually been able to consolidate his base he could have cruised to an easy victory. He was barely able to do so and collected just 33% of the vote.
What has to be considered a surprise was the strong showing of the Democratic Change Party. Its candidate Rómulo Roux was able to garner 31% of the vote. This came despite a huge blow delivered to the party when the electoral tribunal banned former President Martinelli from running for mayor of Panama City and from the National Assembly - in a ruling that was at best shady. Mr. Martinelli was certified on more than one occasion for meeting the requirement to be a legal candidate prior to the abrupt denial. The perception of Mr. Martinelli being treated unfairly during his trial was a factor in the surprise strong showing of the Roux Campaign.
The closeness of the vote suggests that the electorate is far from apathetic when it comes to their democracy. Another interesting fact that supports this is the fact that during the last six Presidential Polls going back to 1990 the incumbent party has failed to win Reelection. This trend actually played out again during these polls.
Moving forward: what are the key issues that the Cortizo Administration will face during its upcoming term?
Income inequality is a rising concern as the gap between the haves and the have-nots continues to widen. Corruption has been endemic in the nation’s history as well and it needs to be addressed. The actions of the failed law firm Mossack Fonseca - showing how Panama is an offshore tax haven - contributed to an image that most likely will take some time for the country to recover from.
While the GDP growth of between 4 and 5% expected during this cycle, it shows that the Panamanian Economy is the fast growing in the hemisphere. However, that has not translated well to the middle class of the country which has been losing ground in term of both wage growth and in the purchasing power of the Balboa over recent years. They are not pleased with what has transpired either.
The Education system is both expensive and underperforming too. Reform in this institution is sorely needed as well to prevent a brain drain from taking place.
However, what could be the major challenge of the Cortizo Administration could be its role in a future superpower brinkmanship between China and the United States. Panama is one nation which has seen an increase in what is considered to be “debt-trap” investments from China. President Cortizo has stated that he welcomes the new relationship with China but he does not want one at the expense of the traditional ally that Panama has had since it gained independence from Colombia back in 1903. That would be the United States. How he manages this could in fact be the toughest challenge for Cortizo.
Comments
Post a Comment
Dissecting Society™ welcomes all sorts of comments, as we are strong advocates of freedom of speech; however, we reserve the right to delete Troll Activity; libellous and offensive comments (e.g. racist and anti-Semitic) plus those with excessive foul language. This blog does not view vulgarity as being protected by the right to free speech. Cheers
I love it when third world countries report growth of 4,5,6 percent and then their population lives in shameful conditions. They make me sick!
ReplyDeleteWhy would Panama look bad for being a financial safe haven?
ReplyDelete"Panama is one nation which has seen an increase in what is considered to be “debt-trap” investments from China."
ReplyDeleteIt seems like China is building up quite a portfolio of State-Slaves...