PANAMA CITY (Reuters) -Panama's electoral court on Monday decided to annul former President Ricardo Martinelli's candidacy in the May 2024 presidential election, citing his inability to run due to a nearly 11-year prison sentence for money laundering.

       Panama's constitution bars anyone sentenced to a prison term of five years or more from serving as president.

       Most polls before Monday's court ruling positioned Martinelli as the favorite to win the election.

       The electoral court said his running mate Jose Raul Mulino will now appear in the ballot as presidential candidate for Martinelli's political party.

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       Martinelli has been living in the Nicaraguan embassy in Panama City since he requested asylum after a court ruling found him guilty on money laundering.

       The former president, a multimillionaire supermarket magnate, held office from 2009 to 2014.

       (Reporting by Elida Moreno; Writing by Valentine Hilaire; Editing by Brendan O'Boyle)

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