World Crisis Chronology
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PANAMA

02/20/2024
Continuing drought caused by El Niño in the Pacific Ocean reduces flow through the Panama Canal so much that shipping is severely impacted.


05/06/2019
Cortizo wins presidency
Cortizo declared the winner with 33% of the vote to Roux’s 31%. Roux says the results are too close for him to concede, but the Panama Electoral Council says the results are “irreversible.”
05/05/2019
Presidential election mainly focused on the Odebrecht scandal and its Panamanian projects. The company has admitted to $59 million in bribes in Panama. However, Pres Varela has refused to cancel any contracts. Leading candidate in polls is Laurentino “Nito” Cortizo of the Democratic Revolutionary Party. His closest rival is Romulo Roux of the Democratic Change Party, who is supported by jailed former president Martinelli.
02/13/2019
EU adds Saudi Arabia, Panama, and Libya, among others, to its list of countries scrutinized for money laundering and terrorist financing.
09/11/2018
US extradites former president Ricardo Martinelli on charges of embezzlement.
02/21/2018
South Korea signs free-trade agreement with Costa Rica, El Salvador, Honduras, Guatemala, and Panama.
10/02/2017
Pres. Juan Carlos Varela accused of accepting bribes from Odebrecht, the Brazilian firm widely involved in corruption in government throughout South and Central America.
08/01/2017
Odebrecht agrees to pay $220 million to Panama and to cooperate with investigations.


05/04/2014
Varela wins presidency
Vice-president Juan Carlos Varela of the Partido Pamaneĩsta wins with 39% of the vote, beating José Domingo Arias of the Democratic Change Party, who won 32% of the vote, and Juan Carlos Navarro of the PRD, who gained 28% of the vote.


05/03/2009
Martinelli wins presidency
Businessman Ricardo Martinelli of the Democratic Change Party is elected president with over 60% of the vote, beating candidate of the ruling Democratic Revolutionary Party (PRD)-People’s Party. Former president Guillermo Endara was third.