Little did he know that by the time his term was about to end this year, all the pillars that made Panama the most successful Latin American economy of the past 30 years would be shaking. Despite doubling the region’s average GDP per capita this century and achieving the income levels of an Eastern European country, Panama remains embroiled in the same difficulties as its neighbors. The good news is that unlike some of his regional peers, Mulino is biased in favor of the private sector. Mulino needs to solve his Martinelli problem quickly, and rally the broad-based support necessary to put Panama back on the path to prosperity. Juan Pablo Spinetto is a Bloomberg Opinion columnist covering Latin American business, economic affairs and politics.
