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PANAMA
The Republic of Panama
 Area:
77,381 sq km; 29,762 sq miles.
Population: 3.23 million (2005).
Capital City: Panama City (1 million, 2004)
People: Mostly of mixed descent, with sizeable communities
of indigenous Indians, Afro-Caribbean, Italians, Spanish, Arabs,
Jews and Asians.
Languages: The official language is Spanish. English is
widely understood by the middle-classes.
Religion(s): Roman Catholic 90%, with Protestant groups,
Judaism and Islam represented in the country.
Basic Economic Facts:
Currency:
US Dollar (referred to locally
as the Balboa).
Nominal GDP: 13.9 billion US dollars (2005)
Nominal GDP per head: 4318 US dollars (2005)
Annual growth: 4.9% (2005) GDP real growth rate
Inflation: 2.9% (2005)
Unemployment: 9% (as a % of labor force in 2005)
Major industries: Light industry, construction (20%),
brewing, cement and other construction materials, sugar mills.
Export partners: US 50%, Nicaragua 5%, Costa Rica 5%
Import partners: Reliable figures not available due to
volatility from imports: many imported on a transshipment basis.
Political Parties:
Arnulfista Party
(PA)
Partido Popular or Popular Party (PP)
Democratic Change
Democratic Revolutionary Party (PRD)
Nationalist Republican Liberal Movement (MOLIRENA)
Solidarity Party (PS)
Government: Panama has three branches to its
representative democracy: the executive (comprising the
President and two Vice-Presidents), the legislative - a 78
member single chamber assembly, and the judiciary. This
comprises a nine-member Supreme Court of Justice (each appointed
for a ten year period), five superior courts and a court of
appeal. The President serves one term of 5 years. Elections for
President and the single chamber legislative assembly are held
at the same time.
Head of State: President Martin Torrijos Espino.
Prime Minister/Premier: Not applicable
First Vice President and Foreign Minister: Samuel Lewis
Navarro.
Membership of
International Groups/Organizations:
Panama is a member of the UN
(and most major agencies) and has served three terms on the
Security Council; World Bank; IADB; IMF; IBRD; Rio Group
(founder member); Union of Banana Export Countries (founder
member); PARLACEN (Central American Parliament); SICA; CONCAUSA
(Central American United States of America Joint Accord); IAEA;
G-77; NAM; OAS; OPANAL; OPCW; WTO
DID YOU
KNOW?
- In November 1903, a small number of
wealthy Panamanian landowners led by a covert Separatist
Junta presided by Dr.
Manuel Amador Guerrero, were encouraged to commit what
amounted to treason and secede from
Colombia with support from the
United States.
- Under the Torrijos-Carter Treaty, the
United States returned all canal-related lands to Panama on
December 31,
1999, but reserves the right to military intervention in
the interest of its national security.
- A nearly impenetrable jungle forms the
Darien Gap between Panama and Columbia. It creates a
break in the Pan-American Highway, which otherwise forms a
complete road from Alaska to Chile.
- Their Jewish community, with over
10,000 members, is by far the biggest community in the
region (including Central America, Colombia and the
Caribbean). Jewish immigration began in the late 19th
Century, and at present there are three synagogues in Panama
City, as well as two Jewish schools.
- Panama City hosts one of only seven
Bahá'í Houses of Worship in the world. Completed in
1972, it is perched on a high cliff overlooking the canal,
and is constructed of local stone laid in a pattern
reminiscent of Native American fabric designs.
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