Panama President inspects price controls

Panama's new president visited supermarkets to check that they had implemented food price controls to cut the cost of living, measures which also will hit the pocket of his predecessor, retail magnate Ricardo Martinelli.

The controls on 22 basic goods including potatoes, beans, chicken and tuna, fulfill a campaign promise made by center-right President Juan Carlos Varela.

Stores that do not abide by the price controls, which went into effect on Monday for six months, will face fines of up to $10,000, Varela said.


Source: Reuters