Laurentino "Nito" Cortizo took over the country this 1 of July, in a ceremony at the Anayansi Theater Atlapa Convention Center.
The event was attended by special guests, including Philip VI of Bourbon, King of Spain, leaders of 8 countries, 4 vice, 12 ministers and representatives of international delegations.
Among the presidents who gathered in the canal land are Ivan Duque, from Colombia; Brahim Ghali, of the Sahrawi Arab Democratic Republic; Martin Vizcarra, from Peru; Evo Morales, from Bolivia; and Danilo Medina, from Dominican Republic.
Cortizo, a businessman 66 year old, which it is part of the ranks of the Democratic Revolutionary Party (FART), and Juan Carlos Varela will happen to the Panamanian Party, He said in his speech that as a country are monumental tasks, and it is time to take the step forward, start a new stage and joining forces.
"The next conquest is the fight against poverty, the country's boom can not hide the country of misery. Today we are the sixth most unequal country in the world, Our challenge is to make possible the prosperous country. There are 777 thousand Panamanians living in multidimensional poverty, 450 thousand children and adolescents are poor ", Cortizo said.
Among the challenges to be faced by the new president is reviving the economy, structural changes in various state institutions and constitutional reforms.
In his speech he also explained that the proposed reforms presented to the Legislature to give Panama a new constitutional order. Both, It will be presented a new bill on public procurement.
"The interests of the country are always ahead. No individual interest, political or economic will be above national interests, and are not negotiable ", he stated.
He pledged to carry out a government austerity and efficiency, which involve reducing a 50% travel and per diem abroad.
"Let's do not steal. There will be no untouchables, even if they are ministers, MPs, entrepreneurs and starting with the president himself ", he claimed.
The president will have a legislature with 40 votes for the 71 existing curules.
During his tenure will be responsible for appointing 5 members of the Board of Directors of the Panama Canal Authority and 6 Supreme Court.