Located on the isthmus that joins North America and South America, Panama is the southern-most country in Central America. An impressive canal dissects the country, connecting the Pacific Ocean with the Caribbean Sea. Revenue from the passage contributes significant revenue to the country's economy, and helps support its world-famous International Banking Center.
Local economists and politicians have helped forge a strong and resilient financial foundation. The World Economic Forum's index on global competitiveness ranks this small nation as the second most aggressive among all Latin American countries.
From 1904 to 1914, the construction of the canal was managed by members of the U. S. Army Corps of Engineers. The first contracts granted most canal rights and responsibilities to the American government. However, this stimulated many local protests. As a result, the 1977 canal treaty was ratified by United States President Jimmy Carter and Panamanian General Omar Torrijos. The document promised the transfer of all canal maintenance and management to the local government in the year 2000. Since then, local officials have been responsible for the management, expansion and protection of the canal. Tolls from the transient freighters and other ship-bound traffic has helped boost and sustain the regional economy.
Three types of licenses are distributed through the nation's banking industry: general, international and representational. The initial type is available for foreign and local operations. The second license grants participation in the interbank market, as well as foreign activities. The final type of license is given to foreign banking institutions which serve clients in the area.
The lush natural environment lures many global tourists. Thick, abundant foliage and unique habitats are nurtured by the warm, moist tropical weather. With high humidity and temperatures, there is little variation between the seasons. The high-lands tend to be cooler, while low-lying areas are warmer. Blue oceans, bright beaches, rugged mountains and deep valleys create an exotic scenery.
Next to the Amazon jungle, the Panamanian Rainforest is the western hemisphere's second largest. An amazing array of animals and plants thrive in this environment. Some of the flora and fauna exist only in this isthmus habitat. Panama City, the capital, is encircled by the deep, dense rainforest jungle.
Over 500 rivers flow across the country toward their destinations on either the Pacific-side or the Caribbean-side. The speedy waterways travel through rugged terrain, making most of the un-navigable by boat. However, they provide the perfect source for hydroelectric power. The hydro-power plants provide the nation with environmentally-friendly sources of energy.
The Pan-American Highway stretches from Patagonia to Alaska. Its route trans-sects the Central American countries. In the Panamanian wilderness, the Darien Gap is the most densely-jungled stretch of the roadway. It's also renown as a violent area of guerrilla warfare, which includes hostage-taking tactics. This high-elevation region is the most challenging portion of the multi-national highway to transverse. Often, it's inaccessible and impenetrable.
The stability of its economy, growth of the banking industry, exotic scenery and abundant natural resources make Panama a desirable destination for many tourists and investors. Although one of the smallest countries, it maintains a strong and secure presence in the global marketplace.
Local economists and politicians have helped forge a strong and resilient financial foundation. The World Economic Forum's index on global competitiveness ranks this small nation as the second most aggressive among all Latin American countries.
From 1904 to 1914, the construction of the canal was managed by members of the U. S. Army Corps of Engineers. The first contracts granted most canal rights and responsibilities to the American government. However, this stimulated many local protests. As a result, the 1977 canal treaty was ratified by United States President Jimmy Carter and Panamanian General Omar Torrijos. The document promised the transfer of all canal maintenance and management to the local government in the year 2000. Since then, local officials have been responsible for the management, expansion and protection of the canal. Tolls from the transient freighters and other ship-bound traffic has helped boost and sustain the regional economy.
Three types of licenses are distributed through the nation's banking industry: general, international and representational. The initial type is available for foreign and local operations. The second license grants participation in the interbank market, as well as foreign activities. The final type of license is given to foreign banking institutions which serve clients in the area.
The lush natural environment lures many global tourists. Thick, abundant foliage and unique habitats are nurtured by the warm, moist tropical weather. With high humidity and temperatures, there is little variation between the seasons. The high-lands tend to be cooler, while low-lying areas are warmer. Blue oceans, bright beaches, rugged mountains and deep valleys create an exotic scenery.
Next to the Amazon jungle, the Panamanian Rainforest is the western hemisphere's second largest. An amazing array of animals and plants thrive in this environment. Some of the flora and fauna exist only in this isthmus habitat. Panama City, the capital, is encircled by the deep, dense rainforest jungle.
Over 500 rivers flow across the country toward their destinations on either the Pacific-side or the Caribbean-side. The speedy waterways travel through rugged terrain, making most of the un-navigable by boat. However, they provide the perfect source for hydroelectric power. The hydro-power plants provide the nation with environmentally-friendly sources of energy.
The Pan-American Highway stretches from Patagonia to Alaska. Its route trans-sects the Central American countries. In the Panamanian wilderness, the Darien Gap is the most densely-jungled stretch of the roadway. It's also renown as a violent area of guerrilla warfare, which includes hostage-taking tactics. This high-elevation region is the most challenging portion of the multi-national highway to transverse. Often, it's inaccessible and impenetrable.
The stability of its economy, growth of the banking industry, exotic scenery and abundant natural resources make Panama a desirable destination for many tourists and investors. Although one of the smallest countries, it maintains a strong and secure presence in the global marketplace.
About the Author:
Panama is now recognized as a popular country for a vacation or retirement home. You can open one or more offshore bank accounts to accommodate your personal and business financial dealings.
