Ernesto Pérez Balladares

Ernesto Pérez Balladares González-Revilla, known affectionately as El Toro, was born on June 29, 1946, in Panama. He emerged as a significant political figure, serving as the President of Panama from 1994 to 1999. His educational background in the United States laid the foundation for a career that began in banking before he transitioned into politics during the regime of military leader Omar Torrijos.

In the late 1980s, Pérez Balladares played a pivotal role as the campaign manager for Carlos Duque, a candidate aligned with the controversial Manuel Noriega. His political journey culminated in his election as president in 1994, where he represented the Democratic Revolutionary Party (PRD) in a tightly contested three-way race against Mireya Moscoso of the Arnulfista Party and the renowned salsa singer Ruben Blades.

During his presidency, Pérez Balladares implemented significant free-market reforms and privatized various government services, marking a shift in Panama's economic landscape. He also sought to mend relations with the United States, aiming for a closer alliance than that of his predecessor, Guillermo Endara. However, his attempt to secure a second term through a constitutional referendum was unsuccessful, leading to his successor, Moscoso, taking office in 1999.

In the years following his presidency, Pérez Balladares faced legal challenges, including a corruption investigation initiated in 2009. He made history as the first former Panamanian president to be placed under house arrest in 2010, facing charges of money laundering, which were later dismissed in 2011. Additionally, in February 2012, he was convicted of slandering comptroller Alvin Weeden, resulting in a fine of three thousand dollars or a year in prison.