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Panama: Political and Economic Conditions and U.S. Relations

Source: www.ndu.edu
Topic: Economic Conditions

Sort Desciption: Economic Conditions. Before the December 1989 U.S. intervention the Panamanian economy had. been severely damaged by two years of strong U.S. economic ...

Content Inside: Congressional Research Service ˜ The Library of Congress CRS Report for Congress Received through the CRS Web Order Code RL30981 Panama: Political and Economic Conditions and U.S. Relations Updated May 20 2005 Mark P. Sullivan Specialist in Latin American Affairs Foreign Affairs Defense and Trade Division Panama: Political and Economic Conditions and U.S. Relations Summary Withfour successive elected civilian governments the CentralAmerican nation of Panama has made notable political and economic progress since the 1989 U.S. militaryintervention thatousted theregimeofGeneralManuel Antonio Noriegafrom power. The currentPresidentMartnTorrijosoftheDemocrat ic RevolutionaryParty (PRD) was elected in May 2004 and inaugurated on September 1 2004. Torrijos the son of former populist leader General Omar Torrijos won a decisive electoral victory with almost 48% of the vote in a four-man race. He succeeded President Mireya Moscoso of the Arnulfist Party (PA) elected in 1999 whose administration was tainted by several high-profile corruption scandals. Torrijos’ electoral alliance also won a majority of seats in the unicameral Legislative Assembly. Themost significantchallengesfacingthenew government includedealingwith the funding deficits of the country’s social security fund; developing plans for the expansion of the Panama Canal; and combating poverty (estimated at 40%) and unemployment (estimated at about 12%). After more than eight months in office President Torrijos remains popular with a 58% approval rating although some observers believe that support for the government could erode unless it makes inroads into tackling unemployment and combating corruption and some maintain that the President’s popularity will be tested when he moves forward with plans to reform the social security fund. TheUnited States has closerelations with Panama stemmingin largepart from the extensive history of linkages developed when the Panama Canal was und ...

crs report for congress panama political and economic conditions, economic conditions in panama, rl30981 september 2007

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