Panama's new president takes office, pledges end to corruption

Panama's new President Laurentino "Nito" Cortizo vowed to curb corruption and close the wealth gap in the nation at his swearing-in ceremony on Monday. U.S.-educated political veteran Cortizo, 66, of the Democratic Revolution Party, won the May election by just over two percentage points, the closest presidential race in decades.

No election in Panama has produced such a close outcome since the 1989 restoration of democracy. During his five-year term he will have to balance relations with China and the United States. Upon taking office in the capital, Cortizo repeated campaign vows to clean up politics after Panama's image was tarnished by a corruption scandal involving Brazilian engineering firm Odebrecht, and the Panama Papers leak of millions of documents detailing tax evasion by the rich and powerful. Fixing Panama's inequality and reducing poverty would be among the country's major tasks, Cortizo added.