Panama presidential candidate Roux accept defeat to Cortizo

Panamanian presidential hopeful Romulo Roux, a former foreign minister under past President Ricardo Martinelli, conceded defeat to U.S.-educated political veteran Laurentino "Nito" Cortizo on Monday.

Panama's electoral tribunal had already declared Cortizo the winner by just over 2 percentage points in the close presidential election.

Roux had been reluctant to concede defeat on Sunday, saying he had found some irregularities in ballots in some voting areas.