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Panama
Capital (and largest city) : Panama City
Location: 8°58′N, 79°32′W
Official language: Spanish
Government: Republic
Independence: From Spain 28 November 1821. From Colombia 3 November 1903.
Area: 118th in the World
Total: 75,517 km² (29,157 sq mi)
Water (%): 2.9
Population: December 2006 estimate 3,320,000 (133rd)
Density: 43 /km² (111 /sq mi) (156th)
GDP (PPP) : $23.495 billion (105th) Per capita $7,283 (83rd)
HDI (2004) : 0.809 (high) (58th)
Currency: Balboa, U.S. dollar (PAB, USD)
Time zone: UTC-5
Calling code: +507
Internet TLD: .pa
Member of: UN, OAS
About Panama
Panama, officially the Republic of Panama (Spanish: República de Panamá), is the southernmost country of Central America. Situated on an isthmus, Panama is a transcontinental nation which connects North America and South America. It borders Costa Rica to the northwest, Colombia to the southeast, the Caribbean Sea to the north and the Pacific Ocean to the south.
History of Panama
Much of Panama's domestic politics in the twentieth century was tied to the Panama Canal and the foreign policy of the United States. At the turn of the twentieth century, Theodore Roosevelt pursued United States diplomatic efforts to facilitate a deal with Colombia that would allow it to take over French canal operations started by Ferdinand de Lesseps. In November 1903, the United States supported a covert Separatist Junta consisting of a small number of wealthy Panamanian landowners and led by Dr. Manuel Amador Guerrero to secede from Colombia.
On 3 November 1903, Panama declared its independence from Colombia. The President of the Municipal Council, Demetrio H. Brid, highest authority at the time, became its de facto President, appointing a Provisional Government on 4 November to run the affairs of the new republic. The United States, as the first country to recognize the new Republic of Panama, sent troops to protect its economic interests. The 1904 Constituent Assembly elected Dr. Manuel Amador Guerrero, a prominent member of the Conservative political party, as the first constitutional President of the Republic of Panama.
In December 1903, representatives of the republic signed the Hay-Bunau Varilla Treaty which granted rights to the United States to build and administer indefinitely the Panama Canal, which was opened in 1914. This treaty became a contentious diplomatic issue between the two countries, reaching a boiling point on Martyr's Day (9 January 1964). The issues were resolved with the signing of the Torrijos-Carter Treaties in 1977.
The original intent of the founding fathers was to bring harmony between the two major political parties (Conservatives and Liberals) . The Panamanian government went through periods of political instability and corruption, however, and at various times in its history, the mandate of an elected president terminated prematurely. In 1968, a coup toppled the government of the recently elected Arnulfo Arias Madrid. General Omar Torrijos eventually became the leading power in the governing military junta, and later became an autocratic strong man until his death in an apparent airplane accident in 1981. After Torrijos's death, power was eventually concentrated in the hands of General Manuel Antonio Noriega, a former head of Panama's secret police and an ex-member of the CIA. Noriega was implicated in drug trafficking by the United States, resulting in difficult relations by the end of the 1980s.
On 20 December 1989, twenty-seven thousand US personnel invaded Panama in order to remove Noriega. A few hours after the invasion, in a ceremony that took place inside a U.S. military base in the former Panama Canal Zone, Guillermo Endara (winner of the May 1989 elections) was sworn in as the new president of Panama. The invasion occurred ten years before the Panama Canal administration was to be turned over to Panamanian control, according to the timetable set up by the Torrijos-Carter Treaties. After the invasion, Noriega sought asylum in the Vatican diplomatic mission represented by Monsignor Jose S. Laboa. After a few days, Noriega surrendered to the American military, and was taken to Florida to be formally extradited and charged by U.S. federal authorities. He is eligible for parole in September of 2007.
Under the Torrijos-Carter Treaties, the United States returned all canal-related lands to Panama on 31 December 1999, but reserves the right to military intervention in the interest of its national security. Panama also gained control of canal-related buildings and infrastructure as well as full administration of the canal.
The people of Panama have already approved the widening of the canal which, after completion, will allow for post-Panamax vessels to travel through it, increasing the number of ships that currently use the canal.
Panama's politics takes place in a framework of a presidential representative democratic republic, whereby the President of Panama is both head of state and head of government, and of a pluriform multi-party system. Executive power is exercised by the government. Legislative power is vested in both the government and the National Assembly. The judiciary is independent of the executive and the legislature.
Provinces and regions of Panama and List of cities in Panama
Administratively, Panama's major divisions are nine provinces and five indigenous territories (comarcas indígenas).
Provinces
Bocas del Toro · Coclé · Colón · Chiriquí · Darién · Herrera · Los Santos · Panamá · Veraguas
Provincial-level comarcas
Emberá-Wounaan · Kuna Yala · Ngöbe-Buglé · Kuna de Madugandí · Kuna de Wargandí
Geography of Panama
Panama is located in Central America, bordering both the Caribbean Sea and the Pacific Ocean, between Colombia and Costa Rica. Its location on the eastern end of the Isthmus of Panama, a land bridge connecting North and South America, is strategic. By 1999, Panama controlled the Panama Canal that links the North Atlantic Ocean via the Caribbean Sea with the North Pacific Ocean.
A nearly impenetrable jungle forms the Darien Gap between Panama and Colombia. It creates a break in the Pan-American Highway, which otherwise forms a complete road from Alaska to Patagonia.
Economy of Panama
Panama's economy is service-based, heavily weighted toward banking, commerce, and tourism, due to its key geographic location. The handover of the canal and military installations by the USA has given rise to new construction projects. The Martín Torrijos administration has undertaken controversial structural reforms, such as a fiscal reform and a very difficult Social Security Reform. Furthermore, a Referendum regarding the building of a third set of locks for the Panama Canal was approved overwhelmingly (though with low voter turnout) on 22 October 2006. The official estimate of the building of the third set of locks is US$5.25 billion.
The Panamanian economy grew 8% in 2006 and for the first time in the last ten years the public sector closed the year 2006 with a trade surplus of USD 88 million. Furthermore the GDP nominal revised in 2006 reached USD 16,704 billion.
The Panamanian currency is the balboa, fixed at parity with the United States dollar. In practice, however, the country is dollarized; Panama mints its own coinage but uses US dollars for all its paper currency. Panama is one of three countries in the region to have dollarized their economies, with the other two being Ecuador and El Salvador.
Globalism
The high levels of Panamanian trade are in large part due to the Colón Free Trade Zone, the largest free trade zone in the Western Hemisphere. Last year the zone accounted for 92 percent of Panama's exports and 65 percent of its imports, according to an analysis of figures from the Colon zone management and estimates of Panama's trade by the United Nations Economic Commission for Latin America and the Caribbean (ECLAC).
Panama fared decently in tourism receipts and foreign direct investment as a percent of GDP (the fourth-highest in Latin America in both categories) and internet penetration (eighth-highest rate in Latin America).
Inflation
According to the Economic Commision for Latin American and the Caribbean (ECLAC, or CEPAL by its more-commonly used Spanish acronym), Panama's inflation as measured by CPI was 2.0 percent in 2006. Panama has traditionally experienced low inflation.
Real estate
Panama City has seen a race between two rival projects aimed at becoming the tallest building in Latin America. But one of the two projects was cancelled. The other project, a 104-story residential and hotel building named Ice Tower, is slated to be completed in 2010.
The Palacio de la Bahia project has been cancelled by the Spanish promoter Olloqui. The two projects were originally smaller, but subsequently started adding floors to obtain status as the tallest building in the region.
There are more than 105 projects in Panama City where neighborhoods are experiencing a huge increase in the number of buildings. In San Francisco there are currently 25 new buildings being built.
Grupo Mall, another Spanish developer, is building a multitower apartment complex, hotel, and commercial mall. The project is scheduled for partial completion in 2009.
Apart from the existing demand, future developments will also be helped by such factors as the planned expansion of the Panama Canal, a possible refinery by U.S. oil giant Occidental Petroleum and a new container port near the Pacific entrance of the canal.
Demographics of Panama
The culture, customs, and language of the Panamanians are predominantly Caribbean and Spanish. Ethnically, the majority of the population is mestizo or mixed Amerindian, African, Spanish and Chinese descent. Spanish is the official and dominant language; English is also recognized as an official language and is spoken widely on the Caribbean coast and by many in business and professional fields. More than half the population lives in the Panama City–Colón metropolitan corridor.
The overwhelming majority of Panamanians are Roman Catholic, accounting for almost 80% of the population. Although the Constitution recognises Catholicism as the religion of the great majority, Panama has no official religion. Minority religions in Panama include Protestantism (12%), Islam (4.4%), the Bahá'í Faith (1.2%), Buddhism (at least 1%), Greek Orthodox (0.1%),Judaism (0.4%), and Hinduism (0.3%). The Jewish community in Panama, with over 10,000 members, is by far the biggest in the region (including Central America, Colombia and the Caribbean). Jewish immigration began in the late 19th century, and at present there are synagogues in Panama City, as well as two Jewish schools. Within Latin America, Panama has one of the largest Jewish communities in proportion to its population, surpassed only by Uruguay and Argentina. Panama's communities of Muslims, East Asians, and South Asians, are also among the largest.
Panama City hosts a Bahá'í House of Worship, one of only eight in the world. Completed in 1972, it is perched on a high hill facing the canal, and is constructed of local mud laid in a pattern reminiscent of Native American fabric designs.
Panama, because of its historical reliance on commerce, is above all a melting pot. This is shown, for instance, by its considerable population of Chinese origin (see Panama section in Chinatowns in Latin America). Many Chinese immigrated to Panama to help build the Panama Railroad. A term for "corner store" in Panamanian Spanish is “The Little Chineee”, reflecting the fact that many corner stores are owned and run by Chinese immigrants. (Other countries have similar social patterns, for instance, the "Arab" corner stores of France.)
There are seven indigenous peoples in Panama:
* Emberá
* Wounaan
* Ngöbe
* Buglé
* Kuna
* Nazo
* Bribri
The country is also the smallest in Spanish-speaking Latin America in terms of population (est. 3,232,000), with Uruguay as the second smallest (est. 3,463,000). However, since Panama has a higher birth rate, it is likely that in the coming years its population will surpass Uruguay's.
Tourism
Panama City
The capital of Panama, Panama City, is enriched with enchanting restaurants, fantastic nightclubs and magnificent shopping. In case you prefer something a little more historic, the old side of the city is close by for an exploring adventure.
Panama Canal
Often referred to as the ninth wonder of the world, the Panama Canal extends across Panama from the Pacific Ocean to the Atlantic Ocean. Visit and find out why some say it’s the greatest engineering achievement for human kind.
San Blas Islands
Featuring a coastline of 200 miles, these islands offer crystal clear waters and beautiful secluded islets. The Kuna Indians of Panama call these islands home and live the same today as they did hundreds of years ago.
Chiriqui
Habitats of quetzals, parrots and numerous other bird species make this province a birdwatcher’s paradise. Cloud and rain forests, mountains and beaches are among the other visual delights to visit.
Darien
Tropical flora, fauna and 1.5 million acres of pure rainforest provide the native Chocoe Indians with an immense jungle.
Useful Links
Government Sites
Presidency of Panama: http://www.presidencia.gob.pa/
Ministry of External Relations of Panama (Spanish): http://www.mire.gob.pa/
Official Site of the Panama Tourism Bureau: http://www.visitpanama.com/
National Directorate of Immigration and Naturalization of Panama : http://www.migracion.gob.pa/eng/index.php
Main Newspapers in Panama
The Panama News: http://www.migracion.gob.pa/eng/index.php
Día a Día: http://www.diaadia.com.pa/
La Crítica: http://www.critica.com.pa/
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