Panama Living

What kind of government does Panama have?

Panama is a Constitutional Republic with democratic elections held every 5 years. Martin Torrijos became President on September 1, 2004 based on his platform of developing new tax reforms as well as a pledge to sign a free trade agreement with the U.S. The International Monetary Fund recently applauded his government for their stance on containing public spending, reforming taxes, and encouraging economic growth.

A constitutional democracy since 1972, Panama has Executive, Legislative and Judicial branches. The President is the chief of state and the head of government served by both a First and Second Vice President as well as a Cabinet of his choosing. Nine political parties vie with each other for 72 Legislature seats elected by popular vote, while nine judges serve on the Supreme Court and are appointed for ten year terms.

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