[3] Herrera won her party's primary on September 7, 2008, defeating Panama City Mayor Juan Carlos Navarro with a ten-point lead.

Martinelli was a successful businessman, and was the chairman of the board of Panama's Super 99 supermarket chain.

[5] Guillermo Endara, former Panamanian president from 1989 to 1994, ran as the candidate for the Fatherland's Moral Vanguard Party.

[7] Though initially the favorite,[5] Herrera was damaged in the election by her links to former military ruler Manuel Noriega[4] and by the perception that she was a "Chavista", a supporter of leftist Venezuelan president Hugo Chavez.

[7] Martinelli was also helped by strong support from the business community and his campaign promise of "real change" resonated among poor voters.