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Right-winger wins Panama election Tycoon elected Panama president
(about 9 hours later)
Rightist businessman Ricardo Martinelli has been declared the winner in Panama's presidential election. A conservative supermarket tycoon has won Panama's presidential election, reversing a recent trend of left-wing victories in Latin America.
With about half of the votes counted he had 60% of the vote, compared to 37% for his rival, the ruling party's Balbina Herrera. Ricardo Martinelli had 61%, while the ruling party's Balbina Herrera was on 37%, with most of the votes counted.
Correspondents say Mr Martinelli, of the Democratic Change party, appealed to poor voters by promising to tackle corruption and crime. Correspondents say voters seemed to warm to Mr Martinelli's message that he was the right man to steer Panama through the global economic crisis.
He will now oversee a multi-billion dollar expansion of the Panama Canal. He will also oversee a $5bn (£3.3bn) expansion of the Panama Canal.
Presidents in Panama are elected for a single, five-year term. Incumbent Martin Torrijos of the ruling Revolutionary Democratic Party is standing down.
Economic tasks
"The tribunal considers you the undisputed winner of this presidential contest," the head of the electoral tribunal told Mr Martinelli in a telephone call broadcast live on television and radio."The tribunal considers you the undisputed winner of this presidential contest," the head of the electoral tribunal told Mr Martinelli in a telephone call broadcast live on television and radio.
Correspondents say he will face a series of economic challenges as the global economic downturn hits the crucial trade link of the Panama Canal. Mr Martinelli, the candidate of a right-wing alliance led by his Democratic Change (CD) party, said he would work for a national unity government because that was what the country was calling for.
Five years ago, Ricardo Martinelli only polled 5% RICARDO MARTINELLI Born 11 March 1952Business degree from University of ArkansasOwns Super 99 - Panama's bigest supermarket chainOther businesses include: banking, agricultural, media1994 - 1996: Head of Social Security1999 - 2003: Chairman of Panama Canal Authority board, Minister for Canal Affairs
Panama receives a little under one-third of its tax revenues from the canal, but amid the global economic crisis traffic through the canal has slowed significantly. "Tomorrow we will all be Panamanians and we will change this country so that it has a good health system, good education, good transportation and good security," he said in his victory speech.
Mr Martinelli will oversee the $5bn (£3.3bn) expansion of the canal to increase its capacity, making it big enough for supertankers and the largest container ships. "We can't continue to have a country where 40% of Panamanians are poor."
Five years ago when he stood for president he only gained around 5% of the vote. Panama has enjoyed buoyant economic growth in recent years, averaging some 8.5%, but this is forecast to slow considerably this year as the global downturn affects the crucial trade link of the Panama Canal.
Panama receives a little under one-third of its tax revenues from the canal, but through traffic has been declining significantly.
Mr Martinelli, who is set to take office on 1 July, will also oversee the expansion of the canal approved and set in motion by the current President Martin Torrijos.
The expansion programme, scheduled to be competed in 2014, aims to increase the canal's capacity, making it big enough for supertankers and the largest container ships.
Honeymoon
Five years ago when Mr Martinelli stood for president he only gained around 5% of the vote.
FROM BBC WORLD SERVICE More from BBC World Service
But the BBC's Will Grant, reporting from the region, says this time around he appeared more in touch with the concerns of poor Panamanians by promising to clamp down on political corruption and get tough on violent crime.But the BBC's Will Grant, reporting from the region, says this time around he appeared more in touch with the concerns of poor Panamanians by promising to clamp down on political corruption and get tough on violent crime.
He has been critical of Mr Torrijos and Ms Herrera, whom he accuses of failing to tackle poverty while lining their pockets in the process. Voters were clearly impressed by the conservative candidate's business acumen and his bitter criticism of the current government, our correspondent adds, but amid the difficult economic situation, Mr Martinelli may be granted a very short honeymoon period in office.
In 2006 President Torrijos won a referendum on his proposal to widen the Panama canal, and economic growth during his administration has averaged around 8.5%. Presidents in Panama are elected for a single, five-year term.
But Mr Martinelli spent heavily on marketing, an estimated $35m, and with his wife he crossed the country giving grants and other financial incentives to students.
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