Indigenous trade at the heart of South America
Panama is a Central American country bordered by Costa Rica to the west, Colombia to the southeast, and the Caribbean Sea to the north and the Pacific Ocean to the south. It is famously known for the Panama Canal, a key conduit for international maritime trade.
Population: The country has an estimated population of about 4.4 million people. The capital and largest city is Panama City. The population is diverse, with a mix of indigenous peoples, Afro-Panamanians, and mestizos.
History
Colonial Era: Panama was part of the Spanish Empire from the early 16th century until the early 19th century. It declared independence from Spain in 1821 and subsequently joined Gran Colombia.
Separation from Colombia: In 1903, Panama gained independence from Colombia, largely supported by the United States, which sought control over the construction of the Panama Canal. The canal opened in 1914 and was under U.S. control until December 31, 1999, when it was handed back to Panama.
Political Status
Government: Panama is a constitutional democracy with a president serving as both head of state and government. The political system includes a unicameral National Assembly.
Current Issues: Political stability has generally characterized Panama, but issues such as corruption, drug trafficking, and economic inequality persist.
Economy
Economy Overview: Panama has one of the fastest-growing economies in Central America, largely driven by the Panama Canal, banking, commerce, and tourism. The canal is vital to international trade, contributing significantly to national revenue.
Currency: The U.S. dollar is widely used alongside the Panamanian balboa, which is pegged to the dollar.
Culture
Cultural Diversity: Panamanian culture is a rich blend of various influences, including indigenous, African, and Spanish. This diversity is reflected in its music, dance, and festivals.
Cuisine: The cuisine is characterized by a mix of local ingredients and influences, with staples including rice, beans, plantains, and seafood.
Recent Developments
Infrastructure Projects: The government has focused on infrastructure development, including expanding the Panama Canal and improving transportation networks.
Environmental Concerns: As Panama develops, it faces challenges related to deforestation and biodiversity loss, particularly in its rainforest regions.
Copyright (C) S. Midttun, 2024
