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| Country
Fact Sheet |
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Location
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Central America, bordering both the Caribbean
Sea and the North Pacific Ocean, between
Colombia and Costa Rica
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Capital
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Panama
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Surface
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75,990 sq kms
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Population
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3,039,150 people (July 2005 est.)
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Currency
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Balboa (PAB); US dollar (USD)
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GDP
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Purchasing
power parity - $20.57 billion (2004 est.)
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GDP/capita
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Purchasing
power parity - $6,900 (2004 est.)
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Language
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Spanish (official), English 14%; note -
many Panamanians bilingual
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Religion
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Roman Catholic 85%, Protestant 15%
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Government
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Constitutional
democracy
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Time
Zone
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GMT -5 hours
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Telecom
Code
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+507
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Airport
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Panama City, Panama. Tocumen international
airport
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Driving
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On right hand side of the road, license
required
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Electrical
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120V, 60Hz
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Political
climate
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Stable country
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| Local
Business & Service Providers |
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Financial
services
Legal and fiduciary
Financial
Technology
Business travel
Image identity Consultancy
Corporate incentives
Automotive services
Accommodations
Lifestyle |
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| History |
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US backing, Panama seceded from Colombia in 1903
and promptly signed a treaty with the US allowing
for the construction of a canal and US sovereignty
over a strip of land on either side of the structure
(the Panama Canal Zone). The Panama Canal was built
by the US Army Corps of Engineers between 1904 and
1914. On 7 September 1977, an agreement was signed
for the complete transfer of the Canal from the
US to Panama by the end of 1999. Certain portions
of the Zone and increasing responsibility over the
Canal were turned over in the intervening years.
With US help, dictator Manuel Noriega was deposed
in 1989. The entire Panama Canal, the area supporting
the Canal, and remaining US military bases were
turned over to Panama by or on 31 December 1999. |
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