Panama’s Trade Minister Federico Alfaro announced his resignation on Thursday days after the country’s top court ruled a contract between the government and Canadian miner First Quantum unconstitutional.
In a resignation letter addressed to the president and shared on social media, Alfaro mentioned the contract, which generated months of protest throughout Panama, as well as the court ruling.
The court’s ruling “could have serious consequences for the country such as the loss of jobs and economic instability, international claims from investors, the impact on the level of investment already announced by the rating agencies,” Alfaro wrote.
President Laurentino Cortizo named Jorge Rivera as Alfaro’s replacement, according to a statement from the president’s office.
(By Eli Moreno and Brendan O’Boyle; Editing by Isabel Woodford)