República de Panamá  (Spanish) Republic of Panama
Motto: "Pro Mundi Beneficio"  (Latin) "For Worldly Benefit"
Anthem: Himno Istmeño  (Spanish)
Capital (and largest city)		Panama City 8°58′N, 79°32′W
Official languages		Spanish
Demonym		Panamanian
Government		Constitutional Democracy
-	President	Martin Torrijos
-	First Vice President	Samuel Lewis
-	Second Vice President	Rubén Arosemena
Independence
-	from Spain	28 November 1821
-	from Colombia	3 November 1903
Area
-	Total	75,517 km² (118th) 29,157 sq mi
-	Water (%)	2. A motto (from the Italian word motto, meaning witticism sentence is a phrase meant to formally describe the general motivation or intention of a social group A national anthem is a generally patriotic musical composition that evokes and eulogizes the history traditions and struggles of its people recognized either by a nation's Himno Istmeño (in English: Hymn of the Isthmus) is the National anthem of Panama (Himno Nacional de Panama The culture customs and language of Panama is predominantly Caribbean Spanish. Panama City (Ciudad de Panamá is the Capital and largest city of the Republic of Panama. An official language is a Language that is given a special legal status in a particular Country, State, or other territory A demonym or gentilic is a word that denotes the members of a People or the inhabitants of a place The culture customs and language of Panama is predominantly Caribbean Spanish. For the government of parliamentary systems see Executive (government. History In ancient times history of India Greece, and Rome had governments similar to constitutional democracies List of the Presidents of Panama (1840-Present This page lists presidents of Panama since both independences in 1840 and in 1903 Martín Erasto Torrijos Espino (born July 18, 1963, in Chitré, Herrera) is a Panamanian politician and the current President First Vice President and Second Vice President are the second and third highest political positions in Panama. Samuel Lewis Navarro (born on July 15, 1957 in Panama City) is the first vice-president and Foreign minister of Panama. First Vice President and Second Vice President are the second and third highest political positions in Panama. Independence is the Self-government of a Nation, Country, or State by its residents and population or some portion thereof generally exercising Spain () or the Kingdom of Spain (Reino de España is a country located mostly in southwestern Europe on the Iberian Peninsula. For the town in Argentina, see 28 de Noviembre. Events Year 1821 ( MDCCCXXI) was a Common year starting on Monday (link will display the full calendar of the Gregorian Calendar (or a Common year Colombia (kəˈlʌmbɪə officially the Republic of Colombia () is a country in northwestern South America. Events 644 - Umar ibn al-Khattab, the second Muslim Caliph, is killed by a Persian slave in Medina. Year 1903 ( MCMIII) was a Common year starting on Thursday (link will display calendar of the Gregorian calendar or a Common year starting Area is a Quantity expressing the two- Dimensional size of a defined part of a Surface, typically a region bounded by a closed Curve. To help compare different Orders of magnitude and geographical regions we list here areas between 100 km² and 1000 km² This is a list of the countries of the world sorted by total area. The square mile is an imperial and US unit of Area equal the area of a square of one statute mile. Water is a common Chemical substance that is essential for the survival of all known forms of Life. In Mathematics, a percentage is a way of expressing a number as a Fraction of 100 ( per cent meaning "per hundred" 9
Population
-	Dec 2006 estimate	3,320,000 (133rd)
-	May 2000 census	2,839,177
-	Density	43/km² (156th) 111/sq mi
GDP (PPP)		2006 estimate
-	Total	$31. In Biology a population is the collection of inter-breeding organisms of a particular Species; in Sociology List of countries by population in 2005|List of countries by population in 1907This is a list of countries ordered according to Population. Population density (in agriculture standing stock and Standing crop) is a measurement of Population per unit area or unit volume List of countries and dependencies by Population density in inhabitants/km² The purchasing power parity ( PPP) theory uses the long-term equilibrium Exchange rate of two currencies to equalize their Purchasing power. 411 billion (103rd)
-	Per capita	$9,000 (83rd)
Gini (2002)		48. There are three lists of Countries of the world sorted by their Gross domestic product (GDP (the value of all final goods and services produced within a nation Per capita is a Latin phrase meaning for each head with Per meaning 'through' or 'by' This article includes three lists of Countries of the world sorted by their Gross domestic product (GDP at Purchasing power parity (PPP Per capita The Gini coefficient is a measure of statistical dispersion most prominently used as a measure of inequality of income distribution or inequality of wealth 5
HDI (2007)		▲ 0. The Human Development Index ( HDI) is an index combining normalized measures of Life expectancy, Literacy, Educational attainment, and GDP 812 (high) (62nd)
Currency		Balboa, U.S. dollar (PAB, USD)
Time zone		(UTC-5)
-	Summer (DST)	(UTC-5)
Internet TLD		.pa
Calling code		+507

Panama, officially the Republic of Panama (Spanish: República de Panamá; IPA: [re'puβlika ðe pana'ma]), is the southernmost country of Central America. This is a list of countries by Human Development Index as included in the United Nations Development Program 's Human Development Report 2007 A currency is a unit of exchange, facilitating the transfer of Goods and/or services It is one form of Money, where money is The balboa is the Currency of Panama. Its ISO 4217 code is PAB. The United States dollar ( sign: $; code: USD) is the unit of Currency of the United States; it has also been ISO 4217 is the International standard describing three-letter codes (also known as the currency code) to define the names of currencies established Daylight saving time ( DST A country This is a list of country calling codes defined by ITU-T recommendation E Situated on an isthmus, some categorize it as a transcontinental nation connecting the north and south part of America. An isthmus is a narrow strip of land connecting two larger land areas This is a list of countries spanning more than one continent, sometimes referred to as transcontinental states. South America is a Continent of the Americas, situated entirely in the Western Hemisphere and mostly in the Southern Hemisphere, with a The Americas are the lands of the Western hemisphere or New World, consisting of the Continents of North America and South America It borders Costa Rica to the north-west, Colombia to the south-east, the Caribbean Sea to the north and the Pacific Ocean to the south. Costa Rica, officially the Republic of Costa Rica ( Spanish: Costa Rica or República de Costa Rica,) is a Country in Colombia (kəˈlʌmbɪə officially the Republic of Colombia () is a country in northwestern South America. For the region see Caribbean. The Caribbean Sea (kəˈrɪbiən or /ˌkærɨˈbiːən/ is a tropical Sea in the Western Hemisphere The Pacific Ocean is the largest of the Earth 's Oceanic divisions It is an international business center and is also a transit country. In Central America, it is the most industrialized country. Although Panama is also the 3rd largest economy in Central America, after Guatemala and Costa Rica, it has the largest expenditure on resource consumption, making the country the largest consumer in Central America. Guatemala (República de Guatemala) is a country in Central America bordered by Mexico to the north and west the Pacific Ocean to the southwest Costa Rica, officially the Republic of Costa Rica ( Spanish: Costa Rica or República de Costa Rica,) is a Country in ^[1]

Contents 1 History 1.1 Pre-Colombian period 1.2 Independence 1.3 Military dictators 1.4 United States invasion of Panama 1.5 Post-Invasion 2 Politics 3 Provinces and regions 4 Geography 5 Economy 5.1 Globalization 5.2 Inflation 5.3 Real estate 5.4 Bilateral Investment Treaty with the U.S. 5.5 Proposed Free Trade Agreement with the United States 6 Demographics 7 International rankings 8 Notes and references 9 External links

History

Main articles: History of Panama and Politics of Panama

Pre-Colombian period

Pre-Colombian heritage of native populations whose presence stretched back over 11,000 years. Indigenous period Panama The earliest traces of these indigenous peoples include fluted projectile points Politics of Panama takes place in a framework of a presidential representative democratic Republic, whereby the President of Panama is both The pre-Columbian era incorporates all period subdivisions in the history and prehistory of the Americas before the appearance of significant European influences The earliest traces of these indigenous peoples include fluted projectile points. These evolved into significant populations that are best known through the spectacular burials of the Conte site (dating to c. AD 500-900) and the polychrome pottery of the Coclé style. Coclé is a province of central Panama on the nation's southern coast The monumental monolithic sculptures at the Barriles (Chiriqui) site were another important clue of the ancient isthmian cultures. This is a list of Membranophones used in the Caribbean music area, including the islands of the Caribbean Sea, as well as the musics Chiriquí is a Province of Panama, it is located on the western coast of Panama and is the most developed province in the country Prior to the arrival of Europeans, Panama was widely settled by Chibchan, Chocoan, and Cueva peoples, among whom the largest group were the Cueva. The Chibchan languages (also Chíbchan, Chibchano) make up a Language family indigenous to the Isthmo-Colombian area which extends from The Choco languages (also Chocoan, Chocó, Chokó) are a small family of Native American languages spread across Colombia and The Cueva were an indigenous people that lived in the Darién region of eastern Panamá. The Cueva were an indigenous people that lived in the Darién region of eastern Panamá. There is no accurate knowledge of size of the indigenous population of the isthmus at the time of the European conquest. For indigenous peoples in the United States other than Hawaii and Alaska see also Native Americans in the United States. The Spanish colonization of the Americas was Spain 's conquest settlement and rule over much of the Western hemisphere. Estimates range as high as two million people, but more recent studies place that number closer to 200,000. Archaeological finds as well as testimonials by early European explorers describe diverse native isthmian groups exhibiting cultural variety and suggesting people already conditioned by regular regional routes of commerce.

Independence

On 3 November 1903, Panama broke off from Colombia. Events 644 - Umar ibn al-Khattab, the second Muslim Caliph, is killed by a Persian slave in Medina. Year 1903 ( MCMIII) was a Common year starting on Thursday (link will display calendar of the Gregorian calendar or a Common year starting The Separation of Panama from Colombia was formalized on 3 November 1903 with the establishment of the Republic of Panama from the Republic of Colombia The US gunboat Nashville prevented the Colombian military from sailing to Panama. See also See for other ships of this name An assault through the dense Panamanian jungle was impossible. The President of the Municipal Council, Demetrio H. Brid, the 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. Demetrio Honorato Brid Lasso ( December 21, 1859 – May 27, 1917) is considered the first de facto President of the Republic of A provisional government is an emergency or interim government set up when a political void has been created by the collapse of a previous administration or regime Events 1333 - Flood of the Arno River, causing massive damage in Florence as recorded by the Florentine chronicler Giovanni Villani 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. Manuel Amador Guerrero ( 30 June, 1833 - 2 May, 1909) was the first President of Panama from 20 February 1904

In November 1903, Phillipe Bunau-Varilla—a French citizen who was not authorized to sign any treaties on behalf of Panama without the review of the Panamanians—unilaterally 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. Philippe Jean Bunau-Varilla (fēlēp' zhäN bünō'-värēyä' (1859-1940 commonly referred to as simply Philippe Bunau-Varilla was a French engineer and soldier The Hay-Bunau Varilla Treaty was signed on November 18, 1903 (two weeks after Panama 's independence from Colombia) The United States of America —commonly referred to as the The Panama Canal is a man-made Canal in Panama which joins the This treaty became a contentious diplomatic issue between the two countries, reaching a boiling point on Martyr's Day (9 January 1964). Martyrs' Day is a Panamanian Holiday which commemorates the January 9, 1964 Riots over Sovereignty of the Panama Canal Events 475 - Byzantine Emperor Zeno is forced to flee his capital at Constantinople. Year 1964 ( MCMLXIV) was a Leap year starting on Wednesday (link will display full calendar of the 1964 Gregorian calendar. The issues were resolved with the signing of the Torrijos-Carter Treaties in 1977 returning the former Canal Zone territories to Panama. The Torrijos-Carter Treaties (sometimes referred to in the singular as the Torrijos-Carter Treaty) are two treaties signed by the United States

Military dictators

The original intent of the founding fathers was to bring peace and 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 President Arnulfo Arias Madrid. Dr Arnulfo Arias Madrid ( August 15, 1901 in Rio Grande Cocle, Panama &ndash August 10, 1988 in Miami Florida

While never holding the position of President himself, General Omar Torrijos eventually became the de facto leader of Panama. Omar Efraín Torrijos Herrera ( February 13, 1929 – August 1, 1981) was the Commander of the Panamanian National Guard As a military dictator, he was the leading power in the governing military junta and later became an autocratic strong man. A dictator is an Authoritarian ruler (eg Absolutist or autocratic) who assumes sole and absolute power without hereditary ascension such as an Absolute A military dictatorship is a Form of government wherein the political power resides with the Military; it is similar but not identical to a Stratocracy, Torrijos maintained his position of power until his death in an airplane accident in 1981.

After Torrijos's death, several military strong men followed him as Panama's leader. Commander Florencio Flores Aguilar followed Torrijos. Colonel Florencio Flores Aguilar was a Panamanian army officer and the military ruler of Panama from 1981 to 1982. Colonel Rubén Darío Paredes followed Aguilar. Rubén Darío Paredes del Río (* 1934) was a Panamanian army officer and the military ruler of Panama from 1982 to 1983. Eventually, by 1983, power was concentrated in the hands of General Manuel Antonio Noriega. Manuel Antonio Noriega (born February 11, 1934) He was never officially the President of Panama, but held the post of "chief executive officer"

Manuel Noriega came up through the ranks after serving in the Chiriquí province and in the city of Puerto Armuelles for a time. Manuel Antonio Noriega (born February 11, 1934) He was never officially the President of Panama, but held the post of "chief executive officer" Chiriquí is a Province of Panama, it is located on the western coast of Panama and is the most developed province in the country A city is an Urban area with a large Population and a particular Administrative, Legal, or Historical status Puerto Armuelles is a city that can be found on Panama 's Pacific Coast in the western Province of Chiriqui next to Costa He was a former head of Panama's secret police and was an ex-informant of the CIA. near as long as it used to be several months ago It has been actively summarized and split into sub-articles and there is a dynamic talk page discussion of all But Noriega's implication in drug trafficking by the United States resulted in difficult relations by the end of the 1980s. The illegal drug trade or drug trafficking is a global Black market consisting of the cultivation manufacture distribution and sale of illegal Drugs The United States of America —commonly referred to as the

United States invasion of Panama

Main article: United States invasion of Panama

On 20 December 1989, twenty-seven thousand U. Events 69 - Vespasian, formerly a general under Nero, enters Rome to claim the title of Emperor. Year 1989 ( MCMLXXXIX) was a Common year starting on Sunday (link displays 1989 Gregorian calendar) S. personnel invaded Panama in order to remove Manuel Noriega. The United States invasion of Panama, codenamed Operation Just Cause, was the Invasion of Panama by the United States in December 1989 Manuel Antonio Noriega (born February 11, 1934) He was never officially the President of Panama, but held the post of "chief executive officer" ^[2] A few hours before the invasion, in a ceremony that took place inside a U. S. military base in the former Panama Canal Zone, Guillermo Endara was sworn in as the new President of Panama. The Panama Canal Zone (Zona del Canal de Panamá was a 553 square mile (1432 km² territory inside of Panama, consisting of the Panama Canal and an area generally Guillermo David Endara Galimany (born 12 May 1936 in Panama City) was the President of Panama from 1989 to 1994 The invasion occurred ten years before the Panama Canal administration was to be turned over to Panamanian authorities, according to the timetable set up by the Torrijos-Carter Treaties. The Torrijos-Carter Treaties (sometimes referred to in the singular as the Torrijos-Carter Treaty) are two treaties signed by the United States During the fighting, between one thousand^[3] and four thousand Panamanians^{[4] [5]}, mostly military, were killed.

Noriega surrendered to the American military shortly after, and was taken to Florida to be formally extradited and charged by U.S. federal authorities on drug and racketeering charges. A military is an Organization authorized by its Nation to use force usually including use of Weapons in defending its Country (or by attacking Florida ( is a state located in the southeastern region of the United States, bordering Alabama to the northwest and Georgia to the The United States of America —commonly referred to as the The federal government of the United States is the central United States Governmental body established by the United States Constitution. He became eligible for parole on September 9, 2007, but remained in custody while his lawyers fought an extradition request from France. Parole may have different meanings depending on the field and judiciary system Events 1000 - Battle of Svolder, Viking Age. 1379 - Treaty of Neuberg, splitting the Austrian Year 2007 ( MMVII) was a Common year starting on Monday of the Gregorian calendar in the 21st century. Critics have pointed out that many of Noriega's former allies remain in power in Panama.

Post-Invasion

Under the Torrijos-Carter Treaties, the United States turned over all canal-related lands to Panama on 31 December 1999, but reserves the right to military intervention in the interest of its national security. The Torrijos-Carter Treaties (sometimes referred to in the singular as the Torrijos-Carter Treaty) are two treaties signed by the United States The United States of America —commonly referred to as the Events 406 – Vandals, Alans and Suebians cross the Rhine, beginning an invasion of Gallia. Year 1999 ( MCMXCIX) was a Common year starting on Friday (link will display full 1999 Gregorian calendar) Panama also gained control of canal-related buildings and infrastructure as well as full administration of the canal. The Panama Canal is a man-made Canal in Panama which joins the

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. " Panamax " ships are of the maximum dimensions that will fit through the locks of the Panama Canal.

Politics

Main article: Politics of Panama

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 multi-party system. Politics of Panama takes place in a framework of a presidential representative democratic Republic, whereby the President of Panama is both A presidential system is a System of government where an executive branch exists and presides (hence the term separately from the Legislature Representative democracy is a form of government founded on the principles of the people's representatives A republic is a State or Country that is not led by a hereditary Monarch, but in which the people (or at least a part of its people have impact on its List of the Presidents of Panama (1840-Present This page lists presidents of Panama since both independences in 1840 and in 1903 Head of state is the generic term for the individual or collective office that serves as the chief public representative of a Monarchic or Republican Nation-state This article focuses on the cases where the Head of Government is a separate office from the Head of State A multi-party system is a system in which three or more political parties have the capacity to gain control of government separately or in coalition Executive power is exercised by the government. In Political science and Constitutional law, the executive is the branch of government responsible for the day-to-day management of the State. Legislative power is vested in both the government and the National Assembly. A legislature is a type of representative Deliberative assembly with the power to create amend and change Laws The law created by a legislature is called Legislation For the government of parliamentary systems see Executive (government. The National Assembly (Asamblea Nacional formerly the Legislative Assembly (Asamblea Legislativa is the legislative branch of the government of the The judiciary is independent of the executive and the legislature. In Law, the judiciary or judicial system is the system of Courts which administer Justice in the name of the sovereign or State

Provinces and regions

Main articles: Provinces and regions of Panama and List of cities in Panama

Geography

Main article: Geography of Panama

Panama is located in Central America, bordering both the Caribbean Sea and the Pacific Ocean, between Colombia and Costa Rica. Panama is divided into nine Provinces (provincias and three provincial-level indigenous regions (Spanish comarcas indígenas, often foreshortened to This is a list of cities in Panama. Achutupo Agua Buena Aguadulce Coclé Ailigandí Panama is a country located in North America, bordering both the Caribbean Sea and the North Pacific Ocean, between Colombia For the region see Caribbean. The Caribbean Sea (kəˈrɪbiən or /ˌkærɨˈbiːən/ is a tropical Sea in the Western Hemisphere The Pacific Ocean is the largest of the Earth 's Oceanic divisions Colombia (kəˈlʌmbɪə officially the Republic of Colombia () is a country in northwestern South America. Costa Rica, officially the Republic of Costa Rica ( Spanish: Costa Rica or República de Costa Rica,) is a Country in Its location on the Isthmus of Panama is strategic. The Isthmus of Panama, also historically known as the Isthmus of Darien, is the narrow strip of land that lies between the Caribbean Sea and the Pacific By 1999, Panama controlled the Panama Canal that links the North Atlantic Ocean via the Caribbean Sea with the North Pacific Ocean. The Panama Canal is a man-made Canal in Panama which joins the

The dominant feature of the country's landform is the central spine of mountains and hills that forms the continental divide. The divide does not form part of the great mountain chains of North America, and only near the Colombian border are there highlands related to the Andean system of South America. The Andes form the world's longest exposed Mountain range. They lie as a continuous chain of highland along the western coast of South America. The spine that forms the divide is the highly eroded arch of an uplift from the sea bottom, in which peaks were formed by volcanic intrusions.

The mountain range of the divide is called the Cordillera de Talamanca near the Costa Rican border. The Cordillera de Talamanca is a mountain range that lies on the border between Costa Rica and Panama. Farther east it becomes the Serranía de Tabasará, and the portion of it closer to the lower saddle of the isthmus, where the canal is located, is often called the Sierra de Veraguas. As a whole, the range between Costa Rica and the canal is generally referred to by Panamanian geographers as the Cordillera Central. The Cordillera Central is a range of mountains in central Costa Rica which continues the Continental Divide east of Cordillera de Tilarán.

The highest point in the country is the Volcán Barú (formerly known as the Volcán de Chiriquí), which rises to 3475 meters (11401 ft. The Volcán Barú (also Volcán de Chiriqui) is the tallest Mountain in Panama and is high ). A nearly impenetrable jungle forms the Darien Gap between Panama and Colombia. The Darién Gap is a large swath of undeveloped swampland and forest separating Panama ( Central America) and Colombia ( South America) It creates a break in the Pan-American Highway, which otherwise forms a complete road from Alaska to Patagonia. The Pan-American Highway (see below for its name in other Western European languages is a network of Roads nearly 48000 kilometres (29800 miles in Alaska ( Аляска Alyaska) is a state in the United States of America, in the northwest of the North American continent Llao LLaojpg|thumb|250px| Lake Nahuel Huapi, near Bariloche, Argentina

Economy

Main article: Economy of Panama

According to the CIA World Factbook, Panama has an unemployment rate of 7. Because of its key geographic location the economy of Panama has a mixed-western economy mainly based on the services industry heavily weighted " Panamax " ships are of the maximum dimensions that will fit through the locks of the Panama Canal. The Panama Canal is a man-made Canal in Panama which joins the The World Factbook ( ISSN; also known as the CIA World Factbook) is an annual publication of the Central Intelligence Agency of the Unemployment occurs when a person is available to work and currently seeking work but the person is without work. 2% and according to the United Nations,^[6] the poverty rate is of 24. The United Nations ( UN) is an International organization whose stated aims are to facilitate cooperation in International law, International security Poverty (also called penury) is deprivation of common necessities that determine the quality of life including food clothing shelter and safe Drinking water, and 2% as of 2006, comparable to that of wealthier nations such as Argentina. For a topic outline on this subject see List of basic Argentina topics. ^[7] However, the First World infrastructure and high standards of living shows Panama's strong and thriving economic growth. The term " first world " refers to countries that are capitalist, which are technologically advanced and whose

Panama's economy is mainly service-based, heavily weighted toward banking, commerce, tourism, trading and private industries because of its key geographic location. For other uses of this term see Industry (disambiguation An industry (from Latin industrius, "diligent industrious" The handover of the canal and military installations by the United States 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. Martín Erasto Torrijos Espino (born July 18, 1963, in Chitré, Herrera) is a Panamanian politician and the current President Social security primarily refers to a Social insurance program providing social protection or protection against socially recognized conditions including poverty old 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. Events 202 BC - Hannibal Barca, leader of the Carthaginians, is defeated by the Roman legions under Scipio Africanus Year 2006 ( MMVI) was a Common year starting on Sunday of the Gregorian calendar. The official estimate of the building of the third set of locks is US$5. 25 billion.

The Panamanian currency is the balboa, fixed at parity with the United States dollar. The balboa is the Currency of Panama. Its ISO 4217 code is PAB. A fixed exchange rate, sometimes called a pegged exchange rate, is a type of Exchange rate regime wherein a Currency 's value is matched to the value of The United States dollar ( sign: $; code: USD) is the unit of Currency of the United States; it has also been In practice, however, the country is dollarized; Panama mints its own coinage but uses US dollars for all its paper currency. Dollarization occurs when the inhabitants of a country use foreign Currency in parallel to or instead of the domestic currency Panama was the first of the three countries in Latin America to have dollarized their economies, later followed by Ecuador and El Salvador. For a topic outline on this subject see List of basic Ecuador topics. El Salvador ( República de El Salvador,) is a country in Central America.

Globalization

The high levels of Panamanian trade are in large part from the Colón Free Trade Zone, the largest free trade zone in the Western Hemisphere. The Colón Free Trade Zone is a gigantic entity at the Atlantic gateway to the Panamá Canal, dedicated to re-export an enormous variety of merchandise to Latin America Last year the zone accounted for 92% of Panama's exports and 64% 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). The United Nations Economic Commission for Latin America and the Caribbean (UNECLAC or ECLAC was established in 1948 (then as the UN Economic Commission for Latin Panama's economy is also very much supported by the trade and exportation of coffee.

Inflation

According to the Economic Commission for Latin American and the Caribbean (ECLAC, or CEPAL by its more-commonly used Spanish acronym), Panama's inflation as measured by weight CPI was 2. The United Nations Economic Commission for Latin America and the Caribbean (UNECLAC or ECLAC was established in 1948 (then as the UN Economic Commission for Latin The United Nations Economic Commission for Latin America and the Caribbean (UNECLAC or ECLAC was established in 1948 (then as the UN Economic Commission for Latin CPI redirects here For other uses see CPI (disambiguation. A consumer price index ( CPI) is a measure of the average price of consumer 0 percent in 2006. ^[8] Panama has traditionally experienced low inflation.

Real estate

Panama City is currently experiencing a real estate boom. Tourists and retirees are arriving in greater quantities and consequently helping the local real estate market. Properties in Panama are rapidly increasing in price, which is turning Panama into a seemingly excellent destination for second homes and investments.

Apart from the existing demand, future developments will also be helped by such factors as the planned expansion of the Panama Canal. The Panama Canal is a man-made Canal in Panama which joins the

Bilateral Investment Treaty with the U. S.

The Bilateral Investment Treaty (BIT) between the governments of the United States and Panama was signed on October 27, 1982. The treaty protects U. S. investment and assists Panama in its efforts to develop its economy by creating conditions more favorable for U. S. private investment and thereby strengthening the development of its private sector. The BIT with Panama was the first such treaty signed by the U. S. in the Western Hemisphere. ^[9]

The importance of Panama to the U. S. stems from the Panama Canal which was built by the U. S. during the period of 1904-1914. Previously, if ships wanted to pass through the Americas, they would have to go all the way around the most southern tip of South America, the Tierra del Fuego, and through the Drake Passage. Tierra del Fuego ( Spanish for " Land of Fire " in English tiˈɛərə dɛl ˈfweɪgoʊ] Spanish ˈtjerað̞elˈfweɰo is an Archipelago The Drake Passage or Mar de Hoces -Sea of " Hoces "- is the body of water between the southern tip of South America at Cape Horn, The Panama Canal connects the Atlantic and Pacific Oceans directly at the narrowest point in Panama. When previously a ship going from New York to San Francisco would have to travel for 20,900 kilometers, now that travel time would be reduced to 8,370 km.

The canal is of economic importance since it provides millions of dollars from toll revenue as well as a right to include and exclude any other nation or company from using it. The United States had complete monopoly over the Panama Canal for 85 years. However, the Torrijos-Carter Treaties signed in 1977 began the process of returning the canal to the Panamanian government in 1999 as long as they agreed to the neutrality of the canal, as well as allowing the U. S. to return at any time.

Proposed Free Trade Agreement with the United States

A Trade Promotion Agreement between the United States and Panama was signed by both governments in 2007, but neither country has yet approved or implemented the Agreement. The Panama - United States Trade Promotion Agreement in Panama called Tratado de Libre Comercio (TLC entre Panama y Estados Unidos is a bilateral Free trade agreement ^[10] While the U. S. Congress was initially favorably disposed to the Panama pact,^[11] the election of the anti-American Pedro González, and his possible link with to the assassination of US soldier Zak Hernández, to the presidency of the Panamanian legislature on September 1, 2007 has halted progress of the pact in that body. Pedro Miguel González Pinzón (b January 1 1965 is a leading political figure in Panama who was indicted by a U Sergeant Zak Hernández Laporte (b 1970&ndash June 10, 1992) was a 22-year-old member of the United States Army who was killed in Panama

Demographics

Main article: Demographics of Panama

According to the CIA World Factbook, Panama has a population of 3,242,173. The culture customs and language of Panama is predominantly Caribbean Spanish. Kuna or Cuna is the name of an indigenous people of Panama and Colombia. The World Factbook ( ISSN; also known as the CIA World Factbook) is an annual publication of the Central Intelligence Agency of the The majority of the population, 70%, is mestizo. Mestizo is a Spanish term that was coined during the Spanish Empire to refer to people of mixed European and Amerindian ancestry in Latin The rest is 14% Amerindian and mixed West Indian, 10% white and 6% Amerindian. The Caribbean (ˌkærəˡbiən kæ'rəbiən Cariben|Caraïben or Caraïben; Caraïbe or more commonly Antilles; Caribe is a Region consisting White Latin Americans are the white population of Latin America. For indigenous peoples in the United States other than Hawaii and Alaska see also Native Americans in the United States. The Amerindian population includes seven indigenous peoples, the Emberá, Wounaan, Guaymí, Buglé, Kuna, Naso and Bribri. Emberá is also a language group in Colombia & Panama Emberá languages. The Guaymí or Ngäbe are an indigenous group living mainly within the Ngöbe-Buglé comarca (or reserve in the Western Panamanian provinces of Veraguas Kuna or Cuna is the name of an indigenous people of Panama and Colombia. The Central American tribe Naso, Teribe or Tjër Di are an indigenous people located in northwest Panama, in the province of The Bribri are a small indigenous tribe around 10000 members living in the Talamanca canton inside of the Limón Province in Costa Rica More than half the population lives in the Panama City–Colón metropolitan corridor. Panama City (Ciudad de Panamá is the Capital and largest city of the Republic of Panama. Colón is a Sea port on the Caribbean Sea coast of Panama. The City lies near the Atlantic entrance to the Panama Canal

The culture, customs, and language of the Panamanians are predominantly Caribbean and Spanish. Spanish is the official and dominant language. About eight percent of the population speak a creole, mostly in Panama City and in the islands off the northeast coast. A creole language, or simply a creole, is a stable Language that originates seemingly as a nativized Pidgin. ^[12] English is spoken widely on the Caribbean coast and by many in business and professional fields. English is a West Germanic language originating in England and is the First language for most people in the United Kingdom, the United States

The overwhelming majority of Panamanians is Roman Catholic, accounting for almost 75% of the population. Although the Constitution recognizes Catholicism as the religion of the great majority, Panama has no official religion. Minority religions in Panama include Islam (0. Islam in Panama has a long and unique history Official data estimates 0 3), the Bahá'í Faith (0. The Bahá'í Faith is a Religion founded by Bahá'u'lláh in nineteenth-century Persia, emphasizing the spiritual unity of all humankind 1%), Buddhism (at least 0. Buddhism is a family of beliefs and practices 5%), Greek Orthodox (0. 1%), Judaism (0. Judaism (from the Greek Ioudaïsmos, derived from the Hebrew יהודה Yehudah, " Judah " in Hebrew יַהֲדוּת Yahedut 4%), and Hinduism (0. Hinduism is a religious tradition that originated in the Indian subcontinent. 3%). The Jewish community in Panama, with over 10,000 members, is by far the biggest in the region (including Central America 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, Argentina, Brazil, and Mexico. Uruguay.(official full name in República Oriental del Uruguay;, Oriental Republic of Uruguay) is a country located in the southeastern part of South America For a topic outline on this subject see List of basic Argentina topics. Panama is also the first country in Latin America to have a Jewish president, Eric Del Valle. 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. A Bahá'í House of Worship, sometimes referred to by its Arabic name of Mashriqu'l-Adhkár ( is the designation of a place of Worship, or Temple, 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. Many Chinese immigrated to Panama from southern China to help build the Panama Railroad in the 19th century; their descendants number around 50,000. Ethnic Chinese in Panama, also variously referred to as Chinese-Panamanian, Panamanian-Chinese, Panama Chinese, or in Spanish as Chino-Panameño Starting in the 1970s, a further 80,000 have immigrated from other parts of mainland China as well. Mainland China, Continental China, the Chinese mainland or simply the mainland, is a geopolitical term synonymous with the area that is under the jurisdiction ^[13][14]

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.

International rankings

Index (Year)	Author / Editor / Source	Year of publication	Countries sampled	World Ranking (1)	Ranking L. A. (2)
Environmental Performance (2008)	Yale University[15]	2008	149	32º	5º
Democracy (2006)	The Economist[16]	2007	167	44º	5º
Global Peace (2008)	The Economist[17]	2008	140	48º	4º
Economic Freedom (2008)	The Wall Street Journal[18]	2008	157	46º	3º
Quality-of-life (2005)	The Economist[19]	2007	111	47º	7º
Travel and Tourism Competitiveness (2008)	World Economic Forum[20]	2008	130	50º	3º
Press Freedom (2007)	Reporters Without Borders[21]	2007	169	54º	5º
Global Competitiviness (2007)	World Economic Forum[22]	2007-08	131	59º	3º
Human Development (2005)	United Nations (UNDP)[23]	2007-08	177	62º	7º
Corruption Perception (2006)	Transparency International[24]	2007	163	84º	10º
Income inequality (1989-2007)(3)	United Nations (UNDP)[25]	2007-2008	126	115º	14º

⁽¹⁾ Worldwide ranking among countries evaluated. The Environmental Performance Index (EPI is a method of quantifying and numerically benchmarking the environmental performance of a country's policies The Economist has in a study examined the state of Democracy in 167 countries and attempted to quantify this with an Economist Intelligence Unit Index of Democracy The Economist is an English-language weekly news and International affairs publication owned by The Economist Newspaper Ltd and edited in London The Global Peace Index is an attempt to measure the relative position of nations’ and regions’ peacefulness The Economist is an English-language weekly news and International affairs publication owned by The Economist Newspaper Ltd and edited in London The Index of Economic Freedom is a series of 10 economic measurements created by the Wall Street Journal and The Heritage Foundation to measure the degree of Economic freedom The Economist Intelligence Unit ’s quality of life index is based on a unique methodology that links the results of Subjective life-satisfaction surveys to the The Economist is an English-language weekly news and International affairs publication owned by The Economist Newspaper Ltd and edited in London The Travel and Tourism Competitiveness Report was first published in 2007 by the World Economic Forum. The World Economic Forum (WEF is a Geneva -based Non-profit foundation best known for its Annual Meeting in Davos, Switzerland The Global Competitiveness Report is a yearly report published by the World Economic Forum. The World Economic Forum (WEF is a Geneva -based Non-profit foundation best known for its Annual Meeting in Davos, Switzerland The Human Development Index ( HDI) is an index combining normalized measures of Life expectancy, Literacy, Educational attainment, and GDP Since 1995, Transparency International has published an annual Corruption Perceptions Index (CPI ordering the countries of the world according to "the degree Transparency International ( TI) is a leading international Non-governmental organization addressing corruption This is a list of countries or dependencies by Income inequality metrics, including Gini coefficients according to the United Nations (UN and the

⁽²⁾ Ranking among the 20 Latin American countries.

⁽³⁾ Because the Gini coefficient used for the ranking corresponds to different years depending of the country, and the underlying household surveys differ in method and in the type of data collected, the distribution data are not strictly comparable across countries. The Gini coefficient is a measure of statistical dispersion most prominently used as a measure of inequality of income distribution or inequality of wealth The ranking therefore is only a proxy for reference purposes, and though the source is the same, the sample is smaller than for the HDI

Notes and references

• CIA World Factbook: Panama
• Panama Canal Expansion Takes Major Step Forward, RESOURCE CANADA BUSINESS NEWS NETWORK, 25-JUL-2006
• Cómo localizar a los grupos del ‘sí’ y ‘no’, 11 de agosto de 2006

External links

Government and Diplomacy

• Mellander, Gustavo A. (1971) The United States in Panamanian Politics:The Intriguing Formative Years. Danville, Ill. : Interstate Publishers, OCLC 138568
• Mellander, Gustavo A. ; Nelly Maldonado Mellander (1999). Charles Edward Magoon: The Panama Years. Río Piedras, Puerto Rico: Editorial Plaza Mayor. ISBN 1563281554. OCLC 42970390.

• (Spanish) The President of Panama
• (Spanish) List of Panamanian Government Agencies
• (Spanish) Ministry of External Relations
• Embassy of Panama in the U.S.
• National Directorate of Immigration and Naturalization

Tourism and Travel

• Official Site of the Panama Tourism Bureau
• Official Site of the Panama Canal Authority
• Republic of Panama.com: History, Economy, Travel Info, and more.
• Learning about Panama in My Panama Live

Economy and Business

• (Spanish) Ministry of Economics and Finance
• (Spanish) Bolsa de Valores (Panama Stock Exchange)
• (Spanish) Comisión Nacional de Valores (Panama SEC)
• American Chamber of Commerce & Industry of Panama
• List of all Panama Banks

Media and Discussion

• (Spanish) La Prensa

© 2009 citizendia.org; parts available under the terms of GNU Free Documentation License, from http://en.wikipedia.org
Dapyx Software network: MP3 Explorer | Ebook Manager | Zenithic