Von der Leyen wants to put European household savings “at the service” of businesses

PANAMA CITY—Ilya Espino de Marotta assumed the administration of the Panama Canal, becoming the first woman to hold the top executive position of the interoceanic waterway since it came under Panamanian control. Espino de Marotta officially began her term on September 7, for a seven-year period that will conclude in 2033, replacing Ricaurte Vásquez. Her appointment was made by the Board of Directors of the Panama Canal Authority. A marine engineer with more than 40 years of experience at the Canal, Espino de Marotta previously served as deputy administrator and participated in strategic projects, including the canal expansion program inaugurated in 2016. Her arrival comes at a particularly important time for the Canal, which is facing water availability problems due to drought. Among her top priorities will be the development of the Río Indio project, an infrastructure project valued at approximately $1.5 billion designed to reinforce the water supply and ensure the future operation of the Canal. Espino de Marotta will also be responsible for driving the institution's modernization and diversification strategy, with projects related to port infrastructure, logistics, and energy. With her arrival, the Panamanian engineer begins a new chapter at the helm of one of the world's main maritime trade routes, amidst environmental, economic, and geopolitical challenges.