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In 1501, Rodrigo de Bastidas was the first European to explore the Isthmus of Panama sailing along the eastern coast. A year later Christopher Columbus on his fourth voyage, sailing south and eastward from upper Central America, explored Bocas del Toro, Veragua, the Chagres River and Portobelo (Beautiful Port) which he named.
After 1567 Panama was attached to the Viceroyalty of Peru but retained its own audiencia. [2] Beginning early in the 16th century, Nombre de Dios in Panama, Vera Cruz in Mexico, and Cartagena in Colombia were the only three ports in Spanish America authorized by the crown to trade with the homeland. By the mid-1560s, the system became ...
Commerce, banking, and tourism are major sectors. Panama is regarded as having a high-income economy. [13] In 2019, Panama ranked 57th in the world in terms of the Human Development Index. [14] In 2018, Panama was ranked the seventh-most competitive economy in Latin America, according to the World Economic Forum's Global Competitiveness Index. [15]
From 1520 some Genoese merchants ruled the commerce of Old Panama (Panamá Viejo) on the Pacific Ocean for a century, thanks to a concession given by the Spaniards, who had the Republic of Genoa as allies. [2] Between 1586 and 1587 already there were 11 Italians in Panama, for naturalization and the right to stay in Panama. According to a ...
1826 - June: City hosts Panama Congress. [2] 1830 - City becomes part of Republic of New Granada. [5] 1849 - Panama Star English-language newspaper begins publication. [6] 1853 - La Estrella de Panamá newspaper in publication. [citation needed] 1855 - Panama Railway begins operating. [7] 1856 - April 15: Watermelon Riot. 1878 - Fire.
A ship is guided through the Panama Canal's Miraflores locks near Panama City on April 24, 2023. (Luis Acosta/AFP/Getty Images)
The Republic of Panama became a protectorate of the larger country through two provisions whereby the United States guaranteed the independence of Panama and received in return the right to intervene in Panama's domestic affairs. For the rights it obtained, the United States was to pay the sum of US$10 million and an annuity, beginning 9 years ...
The U.S. signed a treaty in 1903 that allowed it to build and operate the Canal. President Jimmy Carter gave control back to Panama in 1978 under a new treaty. One expert, though, said Cuomo’s ...