In a medium bowl, whisk together the flour, baking powder, cinnamon, nutmeg, allspice, and salt.
In a large mixing bowl, cream the butter and sugar together until light and fluffy.
Add the eggs one at a time, beating well after each addition.
Stir in the rum, milk, and apricot jam.
Gradually add the flour mixture to the butter mixture, mixing until just combined.
Fold in the raisins, dried apricots, candied cherries, walnuts, and pecans.
Pour the batter into the prepared cake pan and smooth the top with a spatula.
Bake for 1 hour and 15 minutes, or until a toothpick inserted into the center of the cake comes out clean.
Allow the cake to cool in the pan for 10 minutes before transferring it to a wire rack to cool completely.
Notes
Tips and Tricks for Easier Creation of Panamanian Fruitcake
▣ Soak the dried fruits in rum or orange juice for a few hours before adding them to the cake batter to make them plumper and juicier.▣ Use a food processor to chop the dried fruits and nuts quickly and uniformly.▣ Sift the dry ingredients to ensure even mixing and avoid lumps.▣ Grease and flour the cake pan thoroughly to prevent sticking.