Mulino Announces Cabinet Appointments, Prioritizes Private Sector and Economic Stability

Panama's President-elect Jose Raul Mulino unveiled his first cabinet selections, appointing business leaders and an economist to key positions in an administration he pledged will foster a more favorable environment for private enterprise.

Panama City, Panama - President-elect Jose Raul Mulino has made his first cabinet selections, appointing prominent business figures and an economist, signaling his commitment to fostering a private sector-friendly administration and ensuring economic stability.

Mulino, whose government will begin the transition process in June, appointed Felipe Chapman, a business leader and son of former Planning Minister Guillermo Chapman, as Economy and Finance Minister. Chapman's appointment is seen as a positive step towards sound fiscal management, according to analysts.

Javier Martinez-Acha, an economist, will serve as Foreign Minister. Mulino emphasized the need for capable leadership, stating, "The campaign is over, from here on out it's our job to lead the country with the best people possible."

Mulino, a close ally of former President Ricardo Martinelli, has promised to follow Martinelli's economic policies, which presided over a period of economic growth and job creation. However, analysts caution that the new administration faces challenges in maintaining fiscal consolidation and addressing issues inherited from the outgoing government.

In a move to bolster trade, Mulino appointed Julio Molto, former head of the national police under Martinelli, as Trade Minister. Molto will oversee the closure of the First Quantum copper mine, once a lucrative revenue source for Panama.

Jose Icaza, former head of the Panama Chamber of Commerce, was named Minister for the Panama Canal. The trade route, one of the busiest globally, has experienced constraints due to a recent drought.

Mulino emphasized his commitment to transparency and efficiency, pledging to tackle corruption and improve government services. He highlighted the need for an interior minister and education minister, positions yet to be filled.

Mulino's cabinet appointments have garnered mixed reactions. Business leaders have welcomed the inclusion of experienced and respected individuals, while analysts express cautious optimism, emphasizing the need for effective policy implementation.

Mulino has vowed to work closely with the private sector to promote economic growth and job creation. He has also pledged to address social issues such as healthcare, education, and housing.

As Panama prepares for a presidential transition, Mulino's cabinet appointments provide insights into his vision for the country's future. The appointments aim to blend private sector expertise with economic prudence, with a focus on fostering a favorable environment for businesses and ensuring sustainable economic growth.