The Panama Electoral Tribunal on Monday announced that Laurentino Cortizo has won the country's presidential election.
Laurentino Cortizo, the presidential candidate from the opposition Democratic Revolutionary Party, has declared his victory, with a narrow gap of 1.93 per cent against Romulo Roux, another candidate.
"I am pleased. Victory. We won. Now we have to unite forces", said Cortizo.
However, his rival Roux, from former President Ricardo Martinelli's right-wing Democratic Change party, has not yet accepted his defeat as only 95 per cent of the votes have been counted.
Coutinho had 33 per cent of the votes and Roux 31 per cent. As the presidential election in Panama does not have run-off criteria, so the candidate with the maximum number of votes wins the election even he does not have 50 per cent of the vote.
Outgoing President Juan Carlos Varela was barred by the constitution from contesting the sixth presidential election.