Laurentino Cortizo elected new President of Panama

Panama’s Electoral Court declared the centre-left candidate Laurentino Cortizo as winner of Panama’s presidential election. Cortizo is candidate for Panama’s Democratic Revolutionary Party (PRD), which won 33% of 95% of votes counted. The PRD was founded in 1979  by military ruler Omar Torrijos and has been out of power since 2009.

About Laurentino “Nito” Cortizo

• He is a 66-year-old cattleman who was educated in US. He has earlier served as country’s minister of agriculture and also held roles at regional Organisation of American States, and worked in construction and livestock sectors.
• His presidential campaign focused on combating inequality and corruption, rising unemployment, Panama’s education system, state of water utilities and rubbish collection in capital, Panama City and slowing economic growth in this Central America trade and financial hub.

About Panama

• It is a Central America country located on Isthmus of Panama (narrow bridge of land connecting North and South America).
• It is a tropical nation renowned as site of Panama Canal (which cuts through its midsection and connects Atlantic and Pacific Oceans).
• It lies between Caribbean Sea and Pacific Ocean.
• Its national currency is ‘the balboa’. It is issued only in coins. The balboa is at par with U.S. dollar, and U.S. paper currency is freely circulated.

Month: Current Affairs - May, 2019