PANAMA
Location:
Panama is located in Central America, north of Colombia and south of Costa Rica. Its
total area is 78,200 square kilometres.
Population:
2,630,000 (July, 1994 estimate)
Languages:
Spanish (official), English
Government:
Panama's government is a constitutional republic.
Legal System:
Panama's legal system is a civil law system. It has judicial review of legislative acts in
the Supreme Court of Justice. It accepts compulsory ICJ jurisdiction, with reservations.
Telecommunications:
Panama's domestic and international facilities are well developed. It is
connected into the Central American Microwave System. It has one coaxial
submarine cable and two Atlantic Ocean INTELSAT satellite ground stations.
Economy:
GDP expanded by roughly 5.9% in 1993, following growth of 8% in 1992. Banking and
financial services led the way in 1993. The economy thus continues to recover from the
crisis that preceded the ousting of Manuel Noriega, even though the government's
structural adjustment program has been hampered by a lack of popular support and a
passive administration. Public investment has been limited as the administration has
kept the fiscal deficit below 2% of GDP. Unemployment and economic reform are the
two major issues the new government must face.
Industries:
Panama's main industries are manufacturing and construction activities, petroleum
refining, brewing, cement and other construction material and sugar milling.
Currency:
1 balboa (B) = 100 centesimos
Exchange Rates:
balboas (B) per US$1 - 1.000 (fixed rate)
Related sites:
Focus On Panama
Green Arrow Guide To Panama
Panama
Panama: Crossroads Of The Americas
Panama Page
To the Offshore World home page.
To the Offshore Financial Centres page.