Panama President-elect Jose Raul Mulino on Thursday pulled business leaders and an economist into his ranks, the first cabinet selections in what Mulino has promised will be an administration friendly to the private sector. Mulino, whose government will begin the transition process next month, tapped business leader Felipe Chapman for the economy and finance minister post and economist Javier Martinez-Acha as foreign minister.
The campaign is over, from here on out it's our job to lead the country with the best people possible,' Mulino said. Chapman is the son of former Planning Minister Guillermo Chapman. His appointment is 'clearly a positive development, one that increases the likelihood of more sound fiscal management in upcoming years,' wrote analysts from BancTrust & Co. in a note to clients. Julio Molto, head of the national police under Martinelli, will also serve as trade minister.
Mulino also named Jose Icaza, the former head of Panama's chamber of commerce, as minister for the Panama Canal. The trade route, one of the world's busiest, has been hit by a recent drought and daily crossings have been limited. The president-elect said on Thursday he still had to name an interior minister and education minister.