International
Panama’s New President Pledges Action on Canal Water Woes and Tourism Boost
- President-elect Jose Raul Mulino vows to address Panama Canal’s water shortage crisis.
- Plans major tourist train line project to boost tourism and economic growth.
- Commits to pro-investment and pro-business policies while managing national debt responsibly.
Eko hot blog reports that In an exclusive interview, Panama’s president-elect, Jose Raul Mulino, unveiled plans to tackle two critical issues facing the country: the Panama Canal’s water shortage and the development of a major tourist train line.
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Mulino emphasized the urgency of addressing the unprecedented drought affecting the canal’s capacity by proposing legislation to authorize the construction of large water reservoirs.
Panama’s new President pledges action on canal water woes
He stressed the need for immediate action to mitigate revenue loss caused by adverse climate conditions.
Highlighting his vision for boosting tourism, Mulino revealed plans for a transformative railway project, inspired by Mexico’s successful Mayan Train.
He expressed confidence in the project’s potential to stimulate economic growth and announced the creation of a national railway secretariat to oversee its implementation.
The president-elect’s proactive stance extends to economic matters, with a commitment to fiscal responsibility and debt management.
Despite Panama’s significant debt, Mulino assured investors of his administration’s dedication to honoring financial obligations while prioritizing investments in crucial infrastructure projects.
He emphasized the importance of effective tax collection over tax increases and expressed optimism about maintaining Panama’s investment-grade rating.
Mulino’s diplomatic outreach has already begun, with discussions held with global leaders such as U.S. Secretary of State Antony Blinken and Brazilian President Luiz Inacio Lula da Silva.
These conversations have paved the way for initiatives to facilitate U.S. investment in Panama and explore potential membership in the South American Mercosur trade bloc.
Addressing domestic challenges, Mulino outlined plans to address the state pension fund’s precarious situation and underscored the need for transparency in transitioning between administrations.
Panama’s new President pledges action on canal water woes
He emphasized collaboration with independent lawmakers in Congress to enact necessary reforms.
Looking ahead, Mulino emphasized Panama’s untapped potential and the importance of maximizing its strategic geographic position.
FURTHER READING
With his inauguration slated for July 1, the president-elect is poised to embark on a five-year term focused on addressing pressing issues and unlocking Panama’s economic and tourism potential.
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