IBOV 183,476.86 ▼ 0.27% IPSA 11,256.80 ▼ 0.38% IPC MEX 64,992.23 ▲ 1.13% MERVAL 2,893,751 ▼ 1.57% COLCAP 2,584.72 ▼ 0.95% BVL PERÚ 59,934.37 ▲ 1.27% USD/BRL5.18▲ 0.06% USD/MXN17.72▲ 0.18% USD/CLP960.63▼ 0.27% USD/COP3,289▼ 2.03% USD/PEN3.39▼ 0.05% USD/ARS1,525▼ 0.02% USD/UYU40.21▲ 3.54% USD/PYG5,870▲ 2.24% USD/BOB12.17▲ 3.74% USD/DOP59.35▲ 3.00% USD/CRC450.87▲ 2.31% USD/GTQ7.64▲ 3.15% USD/HNL26.85▲ 3.22% USD/NIO36.62— 0.00% USD/VES854.86▼ 0.13% USD/PAB1.00— 0.00% USD/BZD2.00— 0.00% USD/JMD 157.28 — 0.00% USD/TTD6.77▲ 2.63% EUR/BRL5.90▲ 0.01% BRENT 88.88 ▼ 0.03% WTI 83.11 ▼ 0.11% IRON ORE 161.91 — — COPPER 6.61 ▲ 0.03% GOLD 4,461 ▲ 1.78% SILVER 65.59 ▲ 1.26% SOY 1,184 ▲ 3.20% CORN 480.50 ▲ 10.02% WHEAT 655.00 ▲ 3.93% COFFEE 317.25 ▼ 5.51% SUGAR 16.43 ▼ 1.79% ORANGE JUICE 138.55 ▼ 0.47% COTTON 85.03 ▲ 2.33% COCOA 5,719 ▲ 3.18% BEEF 223.60 ▼ 3.93% CATTLE 339.10 ▼ 3.16% LITHIUM 75.20 ▲ 1.47% PETR4 41.64 ▼ 0.05% VALE3 72.97 ▲ 0.83% ITUB4 38.60 ▼ 1.03% BBDC4 16.85 ▲ 0.36% ABEV3 14.89 ▼ 0.80% BBAS3 19.37 ▲ 0.47% B3SA3 14.26 ▼ 0.21% WEGE3 47.59 ▲ 0.49% PRIO3 59.14 ▼ 0.19% SUZB3 41.33 ▲ 2.35% RENT3 34.68 ▼ 0.09% AZZA3 15.89 ▼ 2.63% CSAN3 3.22 ▼ 1.83% RAIZ4 0.25 — 0.00% PCAR3 2.75 ▼ 0.36% GMAT3 3.65 ▼ 1.08% PSSA3 48.13 ▼ 0.54% CVCB3 1.33 ▼ 2.92% POSI3 3.36 ▲ 2.44% SLCE3 13.34 ▲ 0.30% NATU3 8.14 ▼ 0.73% IBOV 183,476.86 ▼ 0.27% IPSA 11,256.80 ▼ 0.38% IPC MEX 64,992.23 ▲ 1.13% MERVAL 2,893,751 ▼ 1.57% COLCAP 2,584.72 ▼ 0.95% BVL PERÚ 59,934.37 ▲ 1.27% USD/BRL 5.16 ▲ 0.01% USD/MXN 17.06 ▼ 0.24% USD/CLP 913.98 ▲ 0.04% USD/COP 3,140 ▲ 0.03% USD/PEN 3.36 ▼ 0.66% USD/ARS 1,493 ▲ 0.10% USD/UYU 40.27 ▲ 1.24% USD/PYG 5,939 ▲ 1.68% USD/BOB 11.64 ▼ 0.76% USD/DOP 58.34 ▲ 1.25% USD/CRC 445.92 ▲ 0.89% USD/GTQ 7.62 ▲ 2.21% USD/HNL 26.79 ▲ 1.57% USD/NIO 36.62 ▲ 0.69% USD/VES 762.44 ▼ 0.13% USD/PAB 1.00 — 0.00% USD/BZD 2.00 — 0.00% USD/JMD 157.28 — 0.00% USD/TTD 6.70 ▲ 0.61% EUR/BRL 5.95 ▲ 1.01% BRENT 88.88 ▼ 0.03% WTI 83.11 ▼ 0.11% IRON ORE 161.91 — — COPPER 6.61 ▲ 0.03% GOLD 4,461 ▲ 1.78% SILVER 65.59 ▲ 1.26% SOY 1,184 ▲ 3.20% CORN 480.50 ▲ 10.02% WHEAT 655.00 ▲ 3.93% COFFEE 317.25 ▼ 5.51% SUGAR 16.43 ▼ 1.79% ORANGE JUICE 138.55 ▼ 0.47% COTTON 85.03 ▲ 2.33% COCOA 5,719 ▲ 3.18% BEEF 223.60 ▼ 3.93% CATTLE 339.10 ▼ 3.16% LITHIUM 75.20 ▲ 1.47% PETR4 41.64 ▼ 0.05% VALE3 72.97 ▲ 0.83% ITUB4 38.60 ▼ 1.03% BBDC4 16.85 ▲ 0.36% ABEV3 14.89 ▼ 0.80% BBAS3 19.37 ▲ 0.47% B3SA3 14.26 ▼ 0.21% WEGE3 47.59 ▲ 0.49% PRIO3 59.14 ▼ 0.19% SUZB3 41.33 ▲ 2.35% RENT3 34.68 ▼ 0.09% AZZA3 15.89 ▼ 2.63% CSAN3 3.22 ▼ 1.83% RAIZ4 0.25 — 0.00% PCAR3 2.75 ▼ 0.36% GMAT3 3.65 ▼ 1.08% PSSA3 48.13 ▼ 0.54% CVCB3 1.33 ▼ 2.92% POSI3 3.36 ▲ 2.44% SLCE3 13.34 ▲ 0.30% NATU3 8.14 ▼ 0.73%
since 2009
Sunday, September 27, 2026

Panama Central America

Panama Business Chamber Urges Lawmakers to Rethink a Rushed Election Bill

By · September 27, 2026 · 6 min read

The LatAm Brief

One email, every weekday morning. What moved in Latin American markets, politics and expat life.

Yesterday’s subject line: “The US Army is quietly planning for Cuba”

Free. We send a confirmation link first — nothing arrives until you click it. Unsubscribe with one click in any edition. If you stop opening us for 30 days we stop sending by ourselves, as we assume the interest is no longer there. See our privacy policy. We never share your email.

PANAMA · POLITICS

Key Facts

  • —The country Panama is a dollarised country of about 4.5 million people, best known for its canal. Its laws pass through a single 71-seat National Assembly, and its next general election is due in May 2029.
  • —The background In 2025 the Electoral Tribunal, Panama’s independent election authority, gathered parties, independents, business and civil society to agree new rules. The result became Bill 699, a 169-article rewrite of the electoral code.
  • —Why now On the night of 23 September an Assembly committee approved the bill in first debate by 7 votes to 2, after making more than 50 changes.
  • —What happened On 27 September the Chamber of Commerce, Industries and Agriculture of Panama asked lawmakers to hold the next debate “in the light of day, without haste”, with “transparency, participation and deliberation”.
  • —The numbers Private donations to a mayoral candidate could reach US$150,000 to US$500,000, depending on the district’s size, and US$300,000 to US$500,000 for a deputy. New parties would need over 68,000 members.
  • —What it means for you Nothing changes yet: the current electoral code applies until the bill clears two more debates and the president’s signature.
  • —Still open Whether the full Assembly reverses the committee’s changes, and whether the Electoral Tribunal takes any article to the Supreme Court.

Panama electoral reform has drawn a sharp warning from business. The Chamber of Commerce, Industries and Agriculture of Panama says lawmakers rewrote the rules in a late-night session and must slow down.

Free daily brief — no card needed
Get every Central America story in one morning email
We build you a personalized brief around the topics you follow — free for 7 days. Love it? Your first month after that is US$1.

“Democracy is not legislated in the dark,” the chamber said in a statement published on Sunday 27 September. Its target is Bill 699, which a National Assembly committee approved in first debate four days earlier with dozens of late changes.

The National Assembly building in Panama City with its logo, a row of Panamanian flags and a bronze bust in front; Panama electoral reform goes to the full Assembly
The National Assembly in Panama City, where the electoral reform bill now heads for its second debate. Photo: Ayaita, CC0, via Wikimedia Commons
One-stop reference
Company Intelligence
Every listed company in Latin America — financials, ownership and structure for 1,450+ companies across 26 exchanges, in one place.
Browse the directory →
RT
Ask Rio Times
This story and the bigger picture.
Open the full Ask Rio Times →

What the business chamber said

The chamber, known by its Spanish initials CCIAP, is one of Panama’s main business associations. Its statement was signed by its president, Aurelio Barría Pino.

It said the committee approved substantive changes during a marathon night session, outside the consensus built in 2025. It described a debate held “between intentional haste, opacity and the darkness of the night”.

The chamber accepted that the Assembly has the right to amend bills. But it said any major departure from a widely consulted text needs proper deliberation and technical support.

The chamber had taken a similar stand in 2021, during an earlier rewrite of the code.

This time it asked lawmakers to hear the Electoral Tribunal, business groups and civil society before the second debate. “Under no circumstances should we accept less,” Barría said on Sunday.

What the committee changed

The biggest change concerns money. Two deputies, Benicio Robinson and Luis Eduardo Camacho, raised the cap on private donations for candidates, scaled by the number of voters.

A mayoral candidate could raise US$150,000 in a district of up to 50,000 voters and US$500,000 where there are more than 200,000. For deputies the ceiling runs from US$300,000 to US$500,000.

Independent candidates face higher hurdles. The committee raised the signatures they need to 3 percent and cut the time allowed to collect them.

The committee also removed separate lists of independent candidates in constituencies that elect more than one deputy, a change Vamos opposed.

New parties would need more than 68,000 members, and the signatures of a party’s founders would no longer count towards that total. The chamber also objects to a change it says allows simultaneous re-election to two elected posts.

Who voted, and how they defend it

The Government, Justice and Constitutional Affairs Committee approved the bill by 7 votes to 2. The two votes against came from Alexandra Brenes and Walkiria Chandler of Vamos, the independent coalition that forms the largest bloc.

The votes in favour came from the PRD, the former ruling party, and from Realizando Metas, President José Raúl Mulino’s party. Three smaller parties joined them.

Brenes said citizens hoping to run as independents lose most. She complained that the changes were voted on without discussion.

Robinson, who chairs the committee and leads the PRD, said the session was public and televised.

“Vamos deputies talk about democracy, but they do not accept losing a vote. Stop lying!” he wrote on social media.

The election authority’s view

Narciso Arellano Moreno, who presides over the Electoral Tribunal, said the committee made more than 50 changes to his institution’s text. Some, he said, altered the spirit of the proposal.

He said the tribunal persuaded deputies to withdraw two changes it considered unconstitutional. One would have stopped it from issuing rules once an election had been called.

The tribunal says it will go to the Supreme Court only if an article in the final law breaches the constitution.

For background on the country and its politics, see Panama Explained: The Canal, the Economy, the Politics and What to Watch.

What comes next

The bill now goes to the full Assembly for its second debate, where articles can still be changed or removed. A third debate and the president’s signature would follow.

Mulino can also object to a bill and send it back to the Assembly.

The committee vote does not make these rules law, and the current electoral code still applies.

Nor is the chamber’s statement binding. It speaks for employers who call trust in institutions one of a country’s most important assets.

Frequently Asked Questions

What is Panama’s Bill 699?

Bill 699 is a 169-article reform of Panama’s electoral code, drafted by the Electoral Tribunal after a national consultation in 2025. It sets the rules for the 2029 general election, including party formation, independent candidates and campaign finance.

Why is Panama’s business chamber criticising the reform?

The Chamber of Commerce, Industries and Agriculture of Panama says a committee approved major changes overnight without proper debate. It objects to higher hurdles for independents and new parties and to changes on private campaign money.

Is the electoral reform already law?

No. It has passed only a committee’s first debate. It still needs second and third debates in the full National Assembly and the president’s signature, and the current electoral code applies until then.

What campaign-finance limits would Bill 699 set?

Private donations to a mayoral candidate could reach US$150,000 to US$500,000 depending on the district’s size, and US$300,000 to US$500,000 for a deputy; new parties would need over 68,000 members.

Sources: Panamá América, CCIAP statement, 27 September 2026, Infobae, CCIAP on the electoral reform, 27 September 2026, TVN, Aurelio Barría Pino on Cámara Opina, 27 September 2026, La Prensa, first-debate vote and donation caps, 24 September 2026, Telemetro, changes to party formation, 24 September 2026, Panamá América, Electoral Tribunal on the changes, 25 September 2026. All retrieved 27 September 2026. The CCIAP position was issued as a public statement by the chamber.

This article was produced by The Rio Times’ automated newsroom system. How we use AI · Report an error

Read More from The Rio Times

The Rio Times · Power Map
See who really holds power in Latin America
Click to open the Power Map →

Rotate for Best Experience

This report is optimized for landscape viewing. Rotate your phone for the full experience.