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Special Report: How to be small and successful in Latin America (ISSN 17414474)

Panama’s political context

Panama became independent from Spain in 1821 (as part of Greater Colombia) and seceded from Colombia in 1903, a rebellion supported at the time by the United States. Washington had been keen to secure the rights to build and operate the Panama Canal. In fact, Panama’s history as in independent republic is closely linked to the Canal. Until 1999 the Panama Canal was operated as a US enclave on Panamanian soil; the Carter-Torrijos pact of 1977 had set the stage for full Panamanian control of the canal to be re-established starting from 2000. However, decades of close association with the US have left their mark. The economy remains dollarised and in both the widespread use of the English language and in middle-class life styles and aspirations US influence is very present.

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