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Panama's President-elect Plans Price Controls on Basic Foods

Panama's president-elect will impose price controls on a range of basic foods to dampen rising costs, a step that will hit his bitter rival, outgoing president and supermarket tycoon Ricardo Martinelli. Juan Carlos Varela, the Panamenista Party (PP) leader and winner of Sunday's election, told Reuters he is clear what his first policy will be when he takes office on July 1. "Establish emergency price controls on 22 products in the basic basket to lower the cost of living...

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