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Panama's ex-President Ricardo Martinelli has had his hopes for re-election dashed after a court barred him from running in May's election.

Most polls had put Mr Martinelli in the lead but on Monday the electoral tribunal annulled his candidacy citing his conviction for money laundering.

He was sentenced to more than 10 years in jail last year.

But he has been living in the Nicaraguan embassy in Panama City since seeking asylum there in February.

Panama's electoral tribunal announced the decision on Monday, arguing that the constitution ruled out candidates who have been sentenced to more than five years in prison.

Martinelli, a supermarket tycoon who was president from 2009 to 2014, was found guilty of money laundering in July 2023 and sentenced to 10 years and eight months.

The 71-year-old has denied any wrongdoing and denounced the charges as politically motivated.

But his appeal against his conviction was quashed last month, a development he said was an "illegal last-minute move" to take him out of the presidential race.

He then sought refuge in the Nicaraguan embassy, claiming there was an imminent risk to his life.

Nicaragua, which has granted Mr Martinelli asylum, has asked Panama to allow the ex-leader to travel to Nicaragua, but the Panamanian authorities have so far denied that request.

Mr Martinelli has been posting videos from the embassy showing him playing with his dog Bruno in front of a large map of Nicaragua and working out on a treadmill.

The electoral court said that following the annulment of his candidacy, Mr Martinelli's name would be replaced with that of his vice-presidential candidate, José Raúl Mulino, on the ballot.

Under Panama's constitution, presidents cannot run for consecutive terms, so the incumbent, Laurentino Cortizo, cannot stand.