José Antonio Remón Cantera, the President of Panama, was assassinated, a significant event that altered the political landscape of the nation. His assassination on January 2, 1955, marked a critical moment in Panama's turbulent political history. José Ramón Guizado, previously serving as Vice President, succeeded Cantera and assumed control of the government amidst a climate of upheaval and uncertainty. Remón Cantera's term was characterized by efforts to modernize Panama and stabilize the economy, underscoring the abrupt nature of the political transition following his death.

As Guizado took power, suspicion surrounded him regarding his potential involvement in the assassination. The political tension increased substantially, fueled by accusations and the volatile atmosphere that often characterized Panamanian politics. Within a very short period, evidence began to mount against Guizado, as connections between him and Cantera’s assassination raised alarm, prompting public outcry and unrest. The political elite and military forces, amid the fierce disputes over the legitimacy of Guizado's presidency, ultimately overthrew him, reinstating a more stable leadership.

This event highlighted the fragility of political power in Panama during this period, as leaders often faced violent opposition or were overthrown in the wake of conspiracies and political maneuvering. The end of Guizado's short rule crystallized the notion that the political elite in Panama operated under precarious conditions, frequently leading to coups and governmental instability. The swift downfall of José Ramón Guizado would shape future political dynamics as Panama navigated through a period of uncertainty in governance.