Politics in Panama operates as a democratic system, characterized by a presidential representative democratic republic. The President serves as both the head of state and government, elected for a five-year term. The National Assembly, composed of deputies, plays a crucial role in legislation and governance. The political landscape in Panama is marked by multiple parties, with the Democratic Revolutionary Party and the Panama Party being among the most prominent. Elections are held every five years, and the country has experienced periods of political instability, particularly during the military dictatorship of Manuel Noriega in the late 20th century.