Panama is about to elect a new president, and in a matter of days, Ricardo Martinelli will step down. Martinelli’s tenure has certainly been an exciting one. He’s had both major civic and social accomplishments, as well as a little controversy follow him for the past five years, and led Panama during one of its most economically successful periods ever. Now, as the guard is about to change, we take a look at what made the most impact during the Martinelli administration, and how it affected the country.
5 Years of Economic Growth in Panama
Though Panama’s economic growth didn’t start in 2009 – when Martinelli took office – it was certainly maintained for the duration of his term. Panama’s economy grew by an average of nearly 9 percent annually, between 2009-2014, making it one of the fastest growing economies in the hemisphere. Supporters of the president attribute much of this to the finalizing of some key free trade agreements, including one with the US, as well as attracting foreign investment through tax breaks, and easing immigration restrictions on permits and visas. Martinelli simplified the tax system by reducing rates, as well as collecting on delinquent payments through outsourcing (source).
Panama’s “Ambitious Public Investment Program”
The most visible legacy of Ricardo Martinelli’s presidency has been the massive investment made into public works projects throughout the country. The overall cost was estimated at $20 billion, and was part of a national strategy to make Panama a logistics and business hub, and thereby attract more foreign business (source). These projects include new roads, hospitals, water filtration plants, and major urban developments in the capital city. The most notable of these have been the Cinta Costera, the large coastal park that lines the downtown bay, and the Panama Metro. Both projects broke ground under Martinelli’s administration, and have served as a physical legacy representing his time in office.
Controversy
Martinelli’s tenure in office has not been without criticism. Since the beginning of his term he has been under scrutiny for trying to intimidate opponents, and was even accused of tampering with the Supreme Court (source). After the WikiLeaks scandal of 2010, cables were released from the US Ambassador to Panama, Barbara J. Stephenson. In the cables, the ambassador accused him of wiretapping political opponents, and described him as having a “bullying style” and “autocratic tendencies.” Martinelli has vehemently denied these claims.
Legacy
Though he may be a polarizing political figure, it’s hard to deny the major achievements Panama has accomplished during his term as president. His government has made major steps in improving the infrastructure of his country, and projects such as the Metro and Cinta Costera are seen as somewhat symbolic reminders of the change and growth of the nation. According to Martinelli’s Wikipedia page:
On February 20, 2010, the University of Arkansas established the Ricardo A. Martinelli Berrocal Scholarship to provide financial aid to prospective University of Arkansas students from Panama. He was also presented with the Citation of Distinguished Alumnus award and was made an official ambassador of the State of Arkansas by Governor Mike Beebe
On June 16, 2013, received and acknowledgement from the FAO in Rome, Italy, for helping to reduce the child malnutrition in the Panamanian territory. It took place during the 38th Session of the Food and Agriculture Organization of the United Nations (FAO) Conference. Martinelli was awarded besides other thirty-seven countries.
Due to Panamanian constitutional law, presidents may only sit for one term, which forbids Martinelli from running again this year. He will continue to act as CEO and principle owner of his Super 99 supermarket chain, and will be an active advocate in the political process. His wife, Marta Linares, is on the ticket as Vice President for his CD (Democratic Change) party, along with presidential hopeful Jose Domingo Arias, who is currently leading in the polls.
