Arnulfo Arias vs Jamil Mahuad

Arnulfo Arias was elected President of Panama in 1940 on a nationalist platform. He enacted a new constitution that expanded executive power and restricted foreign influence, particularly from the United States. He was overthrown by the National Police in 1941 after only 13 months in office.

Arias returned to power in 1949 after a disputed election. He attempted to implement economic reforms and suppress political opposition. He was again overthrown by the National Guard in 1951, after trying to dissolve the National Assembly.

Arias won the 1968 presidential election and took office for a third time. He served only 11 days before being overthrown by a military coup led by Omar Torrijos and Boris Martinez. This ended his political career and ushered in a period of military rule in Panama.

Mahuad signed the Brasilia Presidential Act on October 26, 1998, ending the long-standing border dispute with Peru. The treaty resolved a conflict that had caused multiple wars and established a definitive border, earning Mahuad international recognition.

President Mahuad announced the adoption of the U.S. dollar as Ecuador's official currency on January 9, 2000, to combat hyperinflation and stabilize the economy. The policy ended the sucre's circulation and remains in effect, fundamentally reshaping Ecuador's monetary system.

Following widespread protests led by indigenous groups and a military uprising, Mahuad was forced to resign on January 21, 2000. Vice President Gustavo Noboa assumed power, marking the end of Mahuad's presidency after only 18 months.