International organization participation: CAN (associate), CCC, ECLAC,
FAO, G-77, IADB, IAEA, IBRD, ICAO, ICFTU, ICRM, IDA, IFAD, IFC, IFRCS,
ILO, IMF, IMO, Inmarsat, Intelsat, Interpol, IOC, IOM, ISO, ITU, LAES,
LAIA (observer), NAM, OAS, OPANAL, OPCW, PCA, RG, UN, UNCTAD, UNESCO,
UNIDO, UPU, WCL, WFTU, WHO, WIPO, WMO, WToO, WTrO
Diplomatic representation in the US: chief of mission: Ambassador Guillermo FORD chancery: 2862 McGill Terrace NW, Washington, DC 20008 telephone: (202) 483-1407 consulate(s) general: Atlanta, Houston, Miami, New Orleans, New York, Philadelphia, San Francisco, Tampa
Diplomatic representation from the US: chief of mission: Ambassador Simon FERRO embassy: Avenida Balboa and Calle 38, Apartado 6959, Panama City 5 mailing address: American Embassy Panama, Unit 0945, APO AA 34002 telephone: 227-1777 FAX: 227-1964
Flag description: divided into four, equal rectangles; the top quadrants are white (hoist side) with a blue five-pointed star in the center and plain red; the bottom quadrants are plain blue (hoist side) and white with a red five-pointed star in the center
@Panama:Economy
Economy - overview: Because of its key geographic location, Panama's economy is service-based, heavily weighted toward banking, commerce, and tourism. The hand-over of the canal and military installations by the US has given rise to new construction projects. The MOSCOSO administration inherited an economy that is much more structurally sound and liberalized than the one inherited by its predecessor. Even though export demand is likely to remain slack in some key markets - especially the Andean countries - GDP growth in 2000 probably will be 3% to 4%. Key reform initiatives from the previous administration - including the privatization of public utilities - remain uncompleted. Although President MOSCOSO is unlikely to overturn any previous reforms, her populist leanings make it unlikely any new initiatives will be undertaken in the near future. Indeed, the government has failed to formulate a comprehensive economic policy framework, and the only concrete step it has taken by yearend 1999 has been a hike in agricultural tariffs.
GDP: purchasing power parity - $21 billion (1999 est.)
GDP - real growth rate: 4.4% (1999 est.)
GDP - per capita: purchasing power parity - $7,600 (1999 est.)
GDP - composition by sector: agriculture: 8% industry: 25% services: 67% (1997 est.)