Ernesto Pérez Balladares facts for kids

Quick facts for kids Ernesto Pérez-Balladares González-Revilla
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 78) 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 Panamanian politician. People sometimes called him El Toro, which means "The Bull". He served as the President of Panama from 1994 to 1999.

Pérez Balladares studied in the United States. Before becoming president, he worked as a banker. He also joined the government of military leader Omar Torrijos. In 1989, he helped manage the election campaign for Carlos Duque. Duque was the candidate supported by Manuel Noriega. In 1994, Pérez Balladares was elected president. He represented the Democratic Revolutionary Party (PRD). He won in a close election against Arnulfista Party candidate Mireya Moscoso and singer Ruben Blades.

During his time as president, Pérez Balladares made big changes. He brought in policies that supported free markets. He also allowed private companies to take over some government services. After his presidency, he was followed by Mireya Moscoso in 1999. This happened after a plan to let him run for a second term did not pass.

Early Life and Education

Ernesto Pérez Balladares was born in Panama City, Panama. He went to college in the United States. He earned advanced degrees from the University of Notre Dame. He also studied at the Wharton School of the University of Pennsylvania. From 1971 to 1975, he worked as a credit officer for City Bank. He was in charge of banking for Panama and Central America. He is married to Dora Boyd de Pérez Balladares.

Political Journey

Pérez Balladares started his political career under military leader Omar Torrijos. He served as the Minister of Economy and Finances. In March 1979, he helped start the Democratic Revolutionary Party (PRD). He became the party's Secretary in 1982.

In 1984, he had disagreements with the new military leader, Manuel Noriega. Because of this, Pérez Balladares spent several months living in Spain. He later managed the campaign for Carlos Duque in the 1989 Panamanian general election. Duque was Noriega's chosen candidate. However, international observers said the opposition candidate, Guillermo Endara, was winning. Noriega's government stopped counting votes before the election was finished.

During the US invasion of Panama in December 1989, Endara was confirmed as the winner. He was then sworn in as president. Pérez Balladares was briefly held by US forces because of his connection to Noriega. But he was soon released.

Running for President in 1994

Pérez Balladares ran for president himself in the 1994 Panamanian general election. He was the candidate for the PRD. His main opponents were Mireya Moscoso from the Arnulfista Party. Another strong candidate was the salsa singer Rubén Blades. Blades was the leader of the Papa Egoro party.

Pérez Balladares' opponents tried to link him to Noriega. They showed pictures of them together. But Pérez Balladares said the PRD was very different from Noriega's policies. He wanted to be seen as following in the footsteps of Omar Torrijos. Torrijos was a national hero. The ruling Arnulfista Party was not very popular. People were unhappy with the government of President Endara.

Pérez Balladares won the election with 33% of the votes. Moscoso received 29%, and Blades got 17%.

Presidency (1994–1999)

Pérez Balladares' time as president focused on pro-free market ideas. He brought in many economists who believed in free markets. Under his leadership, the electric and telephone companies became private. In 1997, Panama joined the World Trade Organization.

In 1995, he changed Panama's labor laws. This led to protests from many unions. His popularity dropped because of this. Pérez Balladares also pardoned over 200 people. These people had been accused of crimes during the Noriega years. He said this was to help the country heal.

Pérez Balladares worked to build stronger ties with the United States. He agreed with President Bill Clinton to accept 10,000 Cuban boat people. These people came to US military bases in Panama. He also helped Haitian military leader Raoul Cédras find a safe place to live. Pérez Balladares passed new laws to prevent money laundering.

In 1998, Pérez Balladares wanted to change the constitution. This would have allowed him to serve a second term as president. The Panamanian Constitution usually requires a former president to wait two terms before running again. His party spent a lot of money to support this idea. However, the proposal was defeated by a large margin. This showed that Panama's democracy was strong.

Since Pérez Balladares could not run again, the PRD chose Martín Torrijos. Martín is the son of Omar Torrijos. He ran in the 1999 Panamanian general election. But he lost to the Arnulfista candidate, Mireya Moscoso.

Panama Canal Authority

Towards the end of his presidency, there were concerns about the new Panama Canal Authority. This group would manage the Panama Canal starting January 1, 2000. Critics worried that Pérez Balladares was putting his friends and business partners in charge.

Minera Petaquilla

In 1997, during Pérez Balladares' presidency, a law was passed. This law approved a mining contract. It was between Panama and a company called Minera Petaquilla S.A. (later Minera Panama S.A.). This contract gave the company rights to mine copper and other metals. It covered a large area of land in Cocle province for 30 years.

Some people thought this deal was unfair to Panama. They felt it gave too much control to a private company. They also worried about the long-term effects. There were also claims that the deal was approved unfairly.

In 2017, Panama's Supreme Court said this 1997 law was against the constitution. This decision was confirmed in 2021. In December 2022, the government ordered Minera Panama to stop mining. This was because the company no longer had a valid contract. The government had tried to agree on a new contract, but they were not successful.

See also

In Spanish: Ernesto Pérez Balladares para niños