I picked this up on the Panama Guide and see that our little country continues to get bigger and better all the time.

Panamanian President Ricardo Martinelli said Panama’s economy could grow as much as 9% in 2011, and revealed his government would submit plans for a constitutional reform that includes a reduction in the amount of time a former president would have to wait before being eligible to run for reelection. Currently, former presidents have to sit out for ten years, and Martinelli would propose reducing that to five. “Our economy grew last year by between 6.5 and 7%. And the year 2011 will be even better, when Panama will be one of the most dynamic economies in Latin America, growing between 8 and 9%,” said Martinelli. That estimate of economic growth would put Panama above both Peru and Chile, who are “leaders in the region,” according to the speech given by Martinelli at the start of the second session of the National Assembly. The forecasts are based on investment plans of more than $13 billion dollars that the government wants to spend on various infrastructure projects, including a new subway system, the first in Central America. “All of this will generate more than 34,000 jobs over three years,” so that Panama “will win the admiration of all our brothers in the continent,” said Martinelli. 

Panamanian President Ricardo Martinelli, speaking before the National Assembly, January 2011

Martinelli later told reporters his Cabinet intends to submit a proposal to reform the Constitution next week, which among other things would shorten the amount of time a former president has to wait before being eligible for reelection, from ten to five years. “It would not include immediate reelection, but the period would be reduced from ten to five years,” said Martinelli. The constitutional reforms would also include a second round of elections, and the inclusion in the Constitution of several social programs such as the universal scholarship for students and $100 being paid to those who are older than 70 who have no other retirement or pension, among other topics. “These are things we will discuss and consult widely with all (and) it will be the National Assembly together with all of the Panamanian people that will be able to include (other elements), add, remove, or put,” he said.