Republic Of Panama

Republic of Panama

An emerging nation is a group of people linked together through nationalism in the

hopes to rise from obscurity with the common goal to become a more productive and

cohesive country. Panama is indeed known as one of the worlds emergent nations. There

are many plans under way to ensure a better, more productive future for Panama. The

current president, Ernesto Perez’s main platform was to modernize Panama. He hopes to

achieve this by reforming labor codes, investment laws, decreasing import barriers,

privatizing the public sector companies, passing anti-monopoly laws and improve

Panama-US relations, just to name a few. President Perez is planning redevelopment of

the Panama Canal Zone. Efficient operation of the Zone is expected in the year 2000.

The most important interest the United States has in Panama is definitely the

Panama Canal. (2.)The Panama Canal Treaty of 1977 and1979 returns the Canal from the

U.S. control to the Panamanians. Between that time the U.S. agreed to pay $10 million

for control of the Canal until 1999. Also an annuity of $250,000 was tacked on and we

promised independence for Panama. Each year the price we pay for the canal rises. The

total in 1995 was $100.2 million due to certain provisions of the treaty. (1.)The treaty

also set up the Panama Canal Commission Organization (PCCO). The PCCO is a part of

the executive branch of the United States. It was enacted to manage, operate, and

maintain...

Republic Of Panama

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