Brief 2: Felipe Chapman will be the new Minister of Economy and Finance (MEF)

PANAMA - In Brief 15 May 2024 by Marco Fernandez
The first appointments of the economic team of President-elect José Raúl Mulino (JRM) were announced today. Felipe Chapman (56) will be the next Minister of Economy and Finance (MEF). Chapman earned a BA in Economics from Brown University and an MBA from INCAE Business School. He is the president of INDESA Capital, a firm with over 55 years of macroeconomic, sectoral, and corporate finance analyses. His experience has been primarily linked to consulting in the private sector. He has served as board member of the state-owned Banco Nacional de Panamá (BNP), and CEO of the Panama Stock Exchange, among other institutions in the private financial sector. Pension and fiscal reforms will be MEF´s main tasks in the short term. These reforms must be approved by a legislative body in which a favorable coalition could be obtained, although this remains to be seen. Public credit management also falls under the MEF. In recent months, Chapman coordinated the GANA Panamá document (link https://ganapanama.org/el-plan/), which was developed by various consulting firms with broad participation from social sectors. It was delivered to and accepted by the main presidential candidates two weeks ago. This document could serve as the basis for the economic plan that the Mulino Administration must submit, along with the multi-year financial programming before the end of the year. The manager of this plan, José Ramón Icaza, former president of the Chamber of Commerce, Agriculture, and Industries of Panama, is mentioned as the new Minister of the Canal, who chairs the nine-member Board of Directors that are not immediately changed by the new Government. The new role of the ACP in the national e...

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