Economy & Business - July 2003

The presidential elections are still 10 months away, but the pressure on candidates to flesh out their economic policies is mounting. The key issues are likely to be dealing with the recalcitrant fiscal deficit, working out a strategy for the social security fund and the future of the state owned water and sewage company, IDAAN. Another looming problem is whether to invest in widening the Canal further.

The three leading candidates, according to the opinion polls, are: Guillermo Endara, a former President; Martí­n Torrijos the son of a former President (and the candidate defeated by the current President, Mireya Moscoso, in 1999), and Ricardo Martinelli. These three say that they will clamp down on corruption. Martinelli, who is running as Cambio Democrático candidate, is in favour of keeping Panama distinct from the rest of Central America.

Other potential candidates include José Miguel Alemán, who is Mireya Moscoso's chosen successor. His platform is job creation.

The current favourite for the election is Torrijos, who is running on the Partido Revolucionario Democrático ticket. Endara is running second. He is an outspoken critic of Moscoso and her works.

Priorities: According to the opinion polls, unemployment is the biggest problem facing the country. Almost 42% of the respondents put it top of their list. Around 170,000 Panamanians are currently looking for work. Panamanians, according to the Household Survey, believe that unemployment is the main cause of crime.

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