Panama's new President Laurentino 'Nito' Cortizo vowed to curb co...
PANAMA CITY - Panama’s new President Laurentino “Nito” Cortizo vowed to curb corruption and close the wealth gap in the isthmus nation at his swearing-in ceremony on Monday.
Upon taking office at a convention center in the capital, Cortizo repeated campaign vows to clean up politics after Panama’s image was tarnished by a corruption scandal involving Brazilian engineering firm Odebrecht, and the Panama Papers leak of millions of documents detailing tax evasion by the rich and powerful.
Panama’s economy grew 5.3% annually on average under former President Juan Carlos Varela, driven by the financial sector, infrastructure spending and revenue from the Panama Canal.
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