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Until 1979, when the Canal Zone as a solely U.S. territory was abolished under the terms of the Panama Canal Treaties, the town of Balboa was the administrative center of the Canal Zone, and remained so until midday on December 31, 1999, by which time, according to the Torrijos-Carter Treaties, the Panama Canal and all its assets and territories were fully returned to the Panamanian government.
The balboa replaced the Colombian peso in 1904 following the country's independence. The balboa has been tied to the United States dollar (which is also legal tender in Panama) at an exchange rate of 1:1 since its introduction and has always circulated alongside dollars. Panama has never had an official central bank. [2]
The history of Panama includes the history of the Isthmus of Panama prior to European ... Balboa was the first known European in the Americas to see the Pacific Ocean ...
The concept of the Panama Canal dates back to 1513, when the Spanish conquistador Vasco Núñez de Balboa first crossed the Isthmus of Panama. European powers soon noticed the possibility to dig a water passage between the Atlantic and Pacific Oceans across this narrow land bridge between North and South America.
Its capital was Balboa. The Panama Canal Zone was created on November 18, 1903 from the territory of Panama; it was established with the signing of the Hay–Bunau-Varilla Treaty, which allowed for the construction of the Panama Canal within the territory by the United States. The zone existed until October 1, 1979, when it was incorporated ...
It created the Panama Canal Zone as a U.S. governed region, and allowed the U.S. to build the Panama Canal. In 1977, the Panama Canal Treaty (also called Torrijos–Carter Treaties) was signed by Commander of Panama's National Guard, General Omar Torrijos and U.S. President Jimmy Carter. Over time, it would replace and absolve the 1903 treaty.
Albrook Air Force Station is a former United States Air Force facility in Panama.It was closed on 30 September 1997 as a result of the Torrijos-Carter Treaties which specified that United States military facilities in the former Panama Canal Zone be closed and the facilities be turned over to the Panamanian government.
The Bridge of the Americas crosses the Pacific approach to the Panama Canal at Balboa, near Panama City. It was built between 1959 and 1962 by the United States at a cost of US$20 million. From its completion in 1962 until the opening of the parallel Centennial Bridge in 2004, the Bridge of the Americas was a key part of the Pan-American ...