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LatinNews Daily - 29 June 2018

In brief: Panama

Panama: Panama’s economy & finance minister Dulcidio De La Guardia has announced his resignation. De la Guardia has been in the post since President Juan Carlos Varela took office in July 2014. According to a press release by the economy & finance ministry (MEF), De La Guardia had notified President Varela back in January of his decision to resign in order to return to the private sector. His resignation comes as the government is coming in for criticism over its handling of the economy, following the International Monetary Fund’s (IMF) announcement on 1 June that it was revising Panama’s growth forecast for 2018 down from 5.6% to 4.6%. The IMF cited as grounds for its decision the impact of a strike which lasted over a month, called by the influential construction workers’ union, Sindicato Único de Trabajadores de la Construcción y Similares de Panamá (Suntracs), in demand of higher wages.

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