Panama’s President-elect Jose Raul Mulino has begun selecting key cabinet members for his new administration, with a focus on individuals with strong ties to the private sector. Mulino announced that business leader Felipe Chapman would serve as Minister of Economy and Finance, and economist Javier Martinez-Acha would be the Foreign Minister. These appointments signal Mulino’s commitment to creating a government that is friendly to businesses and economic growth. The transition process is set to begin next month, and Mulino expressed his intention to lead the country with the best people possible.
One of Mulino’s first decisions was to appoint Felipe Chapman, the son of former Planning Minister Guillermo Chapman, as the Minister of Economy and Finance. Analysts have praised this move, citing the likelihood of sound fiscal management in the coming years. Additionally, Julio Molto, who previously served as the head of the national police under Martinelli, was named as the Trade Minister. Molto will be responsible for overseeing the closure of the First Quantum copper mine in the nation. Despite legal troubles surrounding former president Martinelli, Mulino remains a close ally and has vowed to follow Martinelli’s economic strategy.
While Martinelli’s administration was marked by economic prosperity and strong business growth, Mulino’s incoming government faces challenges inherited from the previous administration. Analysts caution that maintaining the country on the path of fiscal consolidation may be difficult in the short term. Mulino has also appointed Jose Icaza, the former head of Panama’s chamber of commerce, as the Minister for the Panama Canal. The trade route, one of the busiest in the world, has been impacted by a recent drought, leading to limitations on daily crossings. Mulino is still in the process of naming additional key positions, including an Interior Minister and Education Minister.
Despite the legal issues surrounding former President Martinelli, who was convicted in a money-laundering case and maintains influence in the country, Mulino has pledged to uphold Martinelli’s economic strategy. Mulino visited Martinelli after the election, indicating their close political relationship. Mulino’s government aims to continue the economic growth experienced under Martinelli’s administration. However, the new administration will need to address challenges left by the previous government, particularly in terms of fiscal consolidation. Moving forward, Mulino’s cabinet appointments reflect his commitment to working closely with the private sector and implementing policies that support economic development in Panama.
