Ernesto Pérez Balladares Facts for Kids

In this Spanish name, the first or paternal family name is Pérez Balladares and the second or maternal family name is González-Revilla.

Quick facts for kids Ernesto Pérez Balladares
Pérez Balladares in 1996

33rd President of Panama
In office September 1, 1994 – September 1, 1999
Vice President	Tomás Altamirano Duque (1994–1999) Felipe Alejandro Virzi López (1994–1999)
Preceded by	Guillermo Endara
Succeeded by	Mireya Moscoso

Personal details
Born	(1946-06-29) June 29, 1946 (age 79) Panama City, Panama
Political party	Democratic Revolutionary Party (PRD)
Spouse	Dora Boyd de Pérez Balladares

Ernesto Pérez Balladares González-Revilla (born June 29, 1946) is a politician from Panama who served as the country's president from 1994 to 1999. He is often called by his nickname, El Toro, which means "The Bull" in Spanish.

Pérez Balladares studied in the United States and worked in banking. He later entered politics, joining the government of military leader Omar Torrijos. In 1989, he managed the presidential campaign for a candidate who supported Panama's then-leader, Manuel Noriega.

In 1994, Pérez Balladares was elected president. He ran as the candidate for the Democratic Revolutionary Party (PRD). It was a close election against two other popular candidates, Mireya Moscoso and the famous salsa singer Ruben Blades.

As president, Pérez Balladares made big changes to Panama's economy. He sold some government-owned companies to private businesses. This is known as privatization. He also worked to build a stronger relationship with the United States. After his term, he was investigated for actions taken while he was in office.

Early Life and Career
Political Journey
- Winning the Presidency
Presidency (1994–1999)
- Attempt for a Second Term
After the Presidency
Minera Petaquilla Mining Contract
Honours
See also

Early Life and Career

Ernesto Pérez Balladares was born in Panama City. He earned advanced degrees from two universities in the United States: the University of Notre Dame and the Wharton School of the University of Pennsylvania.

Before he became a politician, he worked as a credit officer for a major bank in Panama and Central America from 1971 to 1975. He is married to Dora Boyd de Pérez Balladares.

Political Journey

Pérez Balladares began his political career working for military leader Omar Torrijos as the Minister of Economy and Finances. In 1979, he helped create the Democratic Revolutionary Party (PRD).

In 1984, he had a disagreement with the new military leader, Manuel Noriega, and spent some time living in Spain. He later returned to Panama and became the campaign manager for Carlos Duque, Noriega's chosen candidate in the 1989 presidential election.

Many international observers believed the opposition candidate, Guillermo Endara, won that election easily. However, Noriega's government canceled the results. Later that year, the US invasion of Panama occurred, and Endara was officially named the winner and became president.

Winning the Presidency

In 1994, Pérez Balladares ran for president himself. He represented the PRD and competed against Mireya Moscoso and singer Rubén Blades. His opponents tried to connect him to the unpopular former leader, Noriega.

Pérez Balladares said his party was now very different from Noriega's time. He presented himself as a follower of Omar Torrijos, who many Panamanians saw as a hero. In the end, Pérez Balladares won the election with 33% of the vote.

Presidency (1994–1999)

As president, Pérez Balladares focused on policies that supported a free market economy. This meant less government control over businesses. His government sold the state-owned telephone and electric companies to private owners. In 1997, Panama also joined the World Trade Organization, an important group for international trade.

His government also made some decisions that were not popular. He made changes to labor laws, which led to protests. He also gave back pay to Noriega's former paramilitary groups, called the Dignity Battalions.

Pérez Balladares appointed some officials who had worked for Noriega. He said this was a step toward healing the country after years of conflict. He also worked closely with the United States on several issues.

Attempt for a Second Term

The constitution of Panama did not allow a president to serve two terms in a row. In 1998, Pérez Balladares held a special vote, called a referendum, to try to change the constitution. He wanted to run for president again to finish his reforms.

However, the people of Panama voted against the change by a large margin. This meant he could not run in the next election.

Because Pérez Balladares could not run, his party, the PRD, chose Martín Torrijos (the son of Omar Torrijos) as its candidate for the 1999 election. Torrijos lost to Mireya Moscoso.

After the Presidency

After leaving office, Pérez Balladares faced several investigations. In 2009, the government began looking into his finances from his time as president. In 2010, he was placed under house arrest, becoming the first former Panamanian president to be arrested.

He was officially charged with financial wrongdoing, but a judge dismissed the case in 2011. In a separate case in 2012, he was found guilty of making false and harmful statements about another public official and was fined.

Minera Petaquilla Mining Contract

In 1997, while Pérez Balladares was president, Panama's government approved a mining contract with a company called Minera Petaquilla (which later became Minera Panama). This contract gave the company the right to mine for copper and other metals in a large area of Cocle province for 30 years.

Some people criticized the deal. They felt it gave too much control over Panama's natural resources to a private company. Years later, legal challenges were made against the contract.

In 2017, the Supreme Court of Justice of Panama ruled that the law approving the contract was unconstitutional. This means it went against the country's fundamental laws. After several appeals, this decision became final in 2021. In 2022, the government ordered the company to stop its mining work because it no longer had a valid contract.