Ernesto Pérez Balladares

Ernesto Pérez Balladares González Revilla (born June 29,1946 in Panama City) was the President of Panama between 1994 and 1999.

Ernesto Pérez Balladares graduated from a school of Chiriqui Province and from the Universities of Notre Dame and Pennsylvania, earning a master degree in economics (1967-1969) and marketing (1970). From 1971 to 1975, he was credit officer of the City Bank for Panama and Central America.

In 1975, he was selected by the dictator Omar Torrijos to be the Minister of Economy and Finances.

In March 1979, he was one of the co-founders of the Democratic Revolutionary Party (PRD). He was picked to be the Secretary of the Party in 1982. In 1984, he announced that he founded a new political party, the People's Nationalist Party (PNP). Later it disappeared for not having enough support.

Although never proven, it is widely accepted in Panama that Pérez Balladares held a sizable fortune for General Omar Torrijos, and upon his death in 1981, he basically inherited these stolen funds. There is no other real explanation for his sudden multi-million dollar fortune, the son of a humble country physician who's only previous jobs were that of a low-ranking local branch bank officer, and then minister of economy with a modest salary.

At the beginning of 1991, he returned to his former party as the Secretary of the Party.

In May 1994, he won the elections with 33.3% of the vote against Mireya Moscoso of the Arnulfista Party, who got the 24.9%, and the singer Rubén Blades of the Father Egoro's Movement.

His government was characterized by pro-free market policies. Under his rule, both the electric and telephone companies were privatized and, in 1997, Panama entered the World Trade Organization (WTO)

In 1998 a referendum was held to amend the Constitution to allow the President to be reelected to a second consecutive term (the Panamanian Constitution only allows a former President to seek the office after sitting out two consecutive terms). However, the proposal was defeated by a margin of almost 2 to 1. The eventual candidate of his party, Martín Torrijos, who is currently the President, lost to Mireya Moscoso, who received 44.9% of the vote.

He left government on August 31 1999.

Ernesto Pérez Balladares is married to Dora Boyd Preciado, with 3 daughters.

Since he left office, Pérez Balladares has been implicated in charges of corruption. He was identified by the former attorney general as one of the beneficiaries of a company that illegally took over operations of the government agency in charge of port and waterway services. The charges have been set aside by the supreme court, which has several members that were appointed by Pérez Balladares, and who are personal friends of his. The Panamanian Supreme Court is widely regarded as corrupt and political.

Ernesto Pérez Balladares was also implicated in international crimes relating to helping illegal Chinese immigrants to the United States, possibly providing them with false Panamanian passports. Because of this, the United States authorities revoked his visa to the United States.