Definition
Ricardo Martinelli Berrocal (born 11 March 1951) is a Panamanian businessman and politician who served as the 36th President of Panama from 2009 to 2014.
Overview
Martinelli was born in Panama City to a family of Italian descent. He earned a degree in civil engineering from the Technological Institute of Panama and later completed graduate studies in business administration in the United States. Before entering politics, he built a career in the private sector, notably as the director of the supermarket chain Super 99, which he expanded into one of the country’s largest retail chains.
In 2008, Martinelli was nominated by the Democratic Change (Cambio Democrático, CD) party as its presidential candidate. Running on a platform emphasizing economic growth, infrastructure development, and anti‑corruption measures, he won the 2009 election with approximately 60 % of the vote. His administration prioritized large‑scale public works, including the expansion of the Panama Canal’s third set of locks (though the project was ultimately delayed), the construction of highways, schools, and hospitals, and the promotion of foreign investment.
Martinelli’s presidency was marked by strong economic performance, with Panama’s GDP growing at an average annual rate of about 6 % during his term. However, his tenure also attracted criticism and investigations related to alleged corruption, nepotism, and misuse of public funds. After leaving office, he faced legal proceedings in Panama and the United States concerning money‑laundering and bribery allegations. In 2021, he was arrested upon returning to Panama after a period of exile in the United States, though he has continued to claim political persecution.
Etymology/Origin
The given name “Ricardo” is the Spanish form of “Richard,” derived from the Germanic elements ric (“ruler, powerful”) and hard (“hard, brave”). The surname “Martinelli” is of Italian origin, a diminutive of “Martino,” which itself comes from the Latin Martinus, meaning “of Mars,” the Roman god of war. The combination reflects Martinelli’s Panamanian nationality and Italian heritage.
Characteristics
- Political affiliation: Founder and leader of the Democratic Change (CD) party, positioned on the centre‑right of Panama’s political spectrum.
- Economic policies: Pro‑business agenda focused on attracting foreign investment, liberalizing trade, and expanding infrastructure.
- Public image: Known for a charismatic, populist style; supporters credit him with modernizing Panama’s infrastructure, while opponents cite concerns over authoritarian tendencies and corruption.
- Legal status: As of 2024, subject to ongoing judicial proceedings concerning allegations of illicit financial activities; outcomes remain pending.
Related Topics
- Politics of Panama
- Democratic Change (Panama)
- Panama Canal expansion
- Corruption in Panama
- List of Presidents of Panama
- Panama–United States relations