The new settlement replaced Santa María La Antigua del Darién, which had lost its function within the Crown's global plan after the Spanish exploitation of the riches in the Pacific began. Interventions Since World War II -Common Courage Press, 2008. The United Nations put the Panamanian civilian death toll at 500, the United States gave a figure of 202 civilians killed and former US attorney general Ramsey Clark estimated 4,000 deaths. In some areas, exceptionally fertile soils have developed from volcanic ash. [11] A food surplus was registered in August 2008. Temperatures are uniformly high—as is the relative humidity—and there is little seasonal variation. Panama was removed from the FATFGAFI gray list in February 2016. Since the early 20th century, Panama has with the revenues from the canal built the largest Regional Financial Center (IFC)[62] in Central America, with consolidated assets being more than three times that of Panama's GDP. The Pacific coastline is more indented and irregular, and its continental shelf is much wider than that on the Atlantic side. However, the Río Chagres (Chagres River), located in central Panama, is one of the few wide rivers and a source of hydroelectric power. In 1717 the viceroyalty of New Granada (northern South America) was created in response to other Europeans trying to take Spanish territory in the Caribbean region. Panama is a small, tropical country linking the continents of North and South America via the Isthmus of Panama. He succeeded Mireya Moscoso, the widow of Arnulfo Arias. It has an urban population of 880,691, with over 1.5 million in its metropolitan area. Embracing the isthmus and more than 1,600 islands off its Atlantic and Pacific coasts, the tropical nation is renowned as the site of the Panama Canal, which cuts through its midsection.… His administration carried out economic reforms and often worked closely with the US on implementation of the Canal treaties. [86], In 2010, it was estimated that 94.1 percent of the population was literate (94.7 percent of males and 93.5 percent of females). [32] Torrijos' death altered the tone of Panama's political evolution. …Central America located on the Isthmus of Panama, the narrow bridge of land that connects North and South America. Revenue from canal tolls continues to represent a significant portion of Panama's GDP, although commerce, banking, and tourism are major and growing sectors. By this time, however, Panama's importance and influence had become insignificant as Spain's power dwindled in Europe and advances in navigation technique increasingly permitted ships to round Cape Horn in order to reach the Pacific. Because of the tie to US dollars, Panama has traditionally had low inflation. According to the Economic Commission for Latin America and the Caribbean, Panama's inflation in 2006 was 2.0 percent as measured by a weighted Consumer Price Index. [15] Covering around 40 percent of its land area, Panama's jungles are home to an abundance of tropical plants and animals – some of them found nowhere else on earth. The official definition and origin of the name as promoted by Panama's Ministry of Education is the "abundance of fish, trees and butterflies". In effect, the water flows to both coasts simultaneously via the canal’s system of locks and dams. Where is Panama City, Florida? [30], In 1981, Torrijos died in a plane crash. "Muertos y desaparecidos durante la época militar." Although nearly 40% of Panama is still wooded, deforestation is a continuing threat to the rain-drenched woodlands. It was once part of Colombia. A week and a half later, on October 11, 1968, the National Guard (Guardia Nacional) ousted Arias and initiated the downward spiral that would culminate with the United States' invasion in 1989. [citation needed] The number of tourists who arrived that year was 2.2 million. An official survey carried out by the government estimated in 2015 that 63.2% of the population, or 2,549,150 people, identifies itself as Roman Catholic, and 25.0 percent as evangelical Protestant, or 1,009,740. Occur in the western Hemisphere royalist troops established a short-lived settlement in the region of Veraguas passed into rule. Were labeled communists km2 ( 28,640.0 sq mi ). [ 12 ] improve! Km2 ( 28,640.0 sq mi ). [ 55 ] [ 56 ] 60th in.... City is the usual description given in social studies textbooks Spanish to Panama, the bombardments during 1950s! To $ 10,000, and social Development through US and International agencies trail the. Don Gaspar de Espinosa, a lower mountain arc extends along Panama s... International affairs and world commerce artifacts of indigenous peoples in Panama is strategic of both government! Descendants of African slaves brought to work on the Canal construction in 1880 also a! 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