Panama's finance minister steps down

Panama's finance minister steps down

Economy & Policy People Panama

Dulcidio de la Guardia has resigned as the minister of finance for Panama, notifying President Juan Carlos Varela that he intends to return to the private sector.

He first told President Varela of his intention to resign in January before officially completing his assignment on July 1, according to a statement from Panama's Ministry of Economy and Finance.

De la Guardia has been finance minister for the Varela administration for four years. "It has been four years full of challenges.. I appreciate the confidence that President Varela placed in me and the opportunity to serve Panama," de la Guardia said in the statement.

He will continue to support Varela's administration through other means, the statement said.

In April, de la Guardia told LatinFinance the sovereign issuer wished to forge deeper relationships with investors in the Middle East for its future cross-border debt raising activities. Panama is also closing in on its maiden Panda bond issuance.