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About Panama

Officially the Republic of Panama (Spanish: República de Panamá; IPA: [re'puβlika ðe pana'ma]), is the southernmost country of Central America. Situated on an isthmus, some categorize it as a transcontinental nation connecting the north and south part of America. It borders Costa Rica to the north-west, Colombia to the south-east, the Caribbean Sea to the north and the Pacific Ocean to the south. It is an international business center and is also a transit country. In Central America, it is the most industrialized country, although Panama is also the 3rd largest economy in Central America, after Guatemala and Costa Rica, it has by far the most developed economy and has the largest expenditure on resource consumption, making the country the largest consumer in Central America. (source  wikipedia)

General Information:

Bordering countries: Colombia and Costa Rica.

Political System: A democratic independent republic.

Language: Spanish is the official language. English is widely spoken.

Climate : tropical climate. Temperatures are around   25 - 30 Celsius.

Currency :  The currency is the "Balboa" which is the same value as the US dollar. The US dollar is legal tender in Panama, which doesn't print bank notes ( US dollar notes are used ) but only mint its own coins.

Time zone: GMT +5

Population: Around 3 million.  

Political System: A democratic independent.

Economy

According to the CIA World Fact book, Panama has an unemployment rate of 7.2% and according to the Government of Panama, the poverty rate is of 16.6% as of 2004, comparable to that of wealthier nations such as Argentina. However, the First World infrastructure and high standards of living shows Panama's strong and thriving economic growth.
 Economy is mainly service-based, heavily weighted toward banking, commerce, tourism, trading and private industries because of its key geographic location. The handover of the canal and military installations by the United States has given rise to new construction projects. The Martín Torrijos administration has undertaken controversial structural reforms, such as a fiscal reform and a very difficult Social Security Reform.
The Panamanian currency is the balboa, fixed at parity with the United States dollar. In practice, however, the country is dollarized; Panama mints its own coinage but uses US dollars for all its paper currency. Panama was the first of the three countries in Latin America to have dollarized their economies, later followed by Ecuador and El Salvador. (source wikipedia). Panama  is considered a Offshore financial centre for Panama anonymous corporation. This country  centre is famous for confidentially in many business and for it's offshore centre.

Contents of this site:  Business, Economy, offshore, offshore banking, incorporating, offshore information, tourism and travel, anonymous company. 

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