Ricardo Martinelli

"It is tempting to say that Central America has moved to the left, but that is a mostly superficial view of what is happening," said Michael Shifter, vice president of policy for the Inter-American Dialogue, a Washington, D.C. think tank on Latin America. Shifter says even the region's two newest presidents-elect in El Salvador and Panama, who ostensibly represent opposite ends of the political spectrum, have "more similarities than differences" in that they both ran as outsiders challenging a tired status quo. "It would not be surprising to find that, as presidents, Funes and Martinelli govern in similar ways," Shifter said. "Their options on economic policy are severely limited and leave little room for bold experimentation. Despite the left-right labels attached, it will probably not be easy to find much daylight between their performances."

Read more: Central America's left and right hard to tell apart | In this article: Central America, The Miami Herald, Mauricio Funes, Daniel Ortega, El Salvador, Panama, and Democracy

"We've worked hard to make the economic gain reach down to the poor and middle classes. Martinelli only cares about the business class and the capitalists," he says. "We're going to lose everything we've fought for."

Read more: Conservative supermarket tycoon wins Panama vote | In this article: Panama, Panama City, Balbina Herrera, and Tax

"I have voted for the PRD for the past 25 years, but this time I [tried] my luck with Martinelli," says Pedro Gomez, owner of a small Panama City cobbler shop who says he was finally tired of "receiving nothing in return. At least Martinelli promised to give scholarships and free books to children, and my sons need them."

Read more: Panama's New President: A Boost for Business | In this article: Panama, Balbina Herrera, U.S., Panama Canal, Pedro Miguel Gonzalez, and Panama City

"Martinelli has received strong support and I believe that he can achieve the change he's promised," said Carlos Rodriguez, a 46-year-old taxi driver. "He has had great success as a businessman and now I hope he can to a good job in government."

Read more: Supermarket magnate wins Panama presidential vote | In this article: Panama, Balbina Herrera, Panama City, Martin Torrijos, Panama Canal, United States, Tax, and Unemployment

"Martinelli will enter office during a challenging period," said Theresa Paiz Fredel, an analyst at Fitch Ratings in a note.

Read more: UPDATE 1-Panama's president-elect to push US trade deal | In this article: Panama, United States, Tax, Fitch, Martin Torrijos, Sander Levin, and Barack Obama

"He was a great politician, statesman, and I feel personally, and in the name of the government, very saddened by this tragic death," Mr. Martinelli said.

Read more: Obituary: Guillermo Endara / Ex-Panamanian president who replaced Noriega | In this article: Guillermo Endara, Manuel Noriega, Democracy, Arnulfista Party, U.S., Panama City, Post-Gazette, and Democratic Revolutionary Party

"I've never seen a spectacular accident like this," President Ricardo Martinelli said after visiting the crash site on Friday. "The saddest thing was to hear mobile phones ringing inside the bus - desperate relatives trying to call their loved ones to find out why they had not arrived at home," a visibly shaken Martinelli said.

Read more: At least 24 dead in Panama collision | In this article: Panama and Panama City

"The process has been crystal-clear," said Panamanian President Ricardo Martinelli, who was present at the ceremony. "The country has benefited and the price is even lower than the base price that the Canal Authorities had,"

Read more: Spain's Sacyr wins bid to expand Panama Canal: official | In this article: Panama Canal, Spain, Panama, and Atlantic Oceans

Martinelli acknowledged "our administration will not have the resources the previous administration had."

Read more: Pro-business president takes office in Panama | In this article: Panama, All rights reserved, Martin Torrijos, Manuel Zelaya, Panama Canal, Latin America, Panama City, and Honduras

"This is a victory for all the people of Panama," Martinelli said. "And I make a call to all our opposition -- to all the parties that opposed us -- that you all are all Panamanians. ... Tomorrow we have to start a new day."

Read more: Tribunal: Opposition leader wins Panama presidential race | In this article: Panama, Balbina Herrera, Democratic Revolutionary Party, and CNN