New Panama President-elect Appoints Economy and Finance Ministers, as well as Trade Minister Amidst Promises of Better Fiscal Management

In a move to lead a business-friendly administration, Panama President-elect Jose Raul Mulino has appointed Felipe Chapman and Javier Martinez-Acha as economy and finance minister, and foreign minister respectively. The selection of these two individuals is in line with Mulino’s promise to prioritize sound economic management once he is sworn in next month.

Chapman, who has a background in business, was selected as the country’s economy and finance minister. His father, Guillermo Chapman, served as former Planning Minister. Analysts from BancTrust & Co. view his appointment positively, believing that it could lead to better fiscal management in the future. Additionally, Julio Molto, who previously served as head of the national police under ex-President Ricardo Martinelli, was appointed trade minister.

Molto’s role will involve overseeing the closure of the First Quantum copper mine in the country. Despite his close association with Martinelli, Mulino believes that Molto’s experience makes him an ideal candidate for this role. With these cabinet selections made, Mulino is now one step closer to becoming Panama’s new president and leading the country into a new era of economic growth and prosperity.