Panama is

Panama is. An emerging nation is a group of people linked together through nationalism in the hopes to rise from obscurity with the common goal to become a more productive and cohesive country. Panama is indeed known as one of the worlds emergent nations. There are many plans under way to ensure a better, more productive future for Panama. The current president, Ernesto Perez’s main platform was to modernize Panama. He hopes to achieve this by reforming labor codes, investment laws, decreasing import barriers, privatizing the public sector companies, passing anti-monopoly laws and improve Panama-US relations, just to name a few. President Perez is planning redevelopment of the Panama Canal Zone. Efficient operation of the Zone is expected in the year 2000. The most important interest the United States has in Panama is definitely the Panama Canal. (2.)The Panama Canal Treaty of 1977 and1979 returns the Canal from the U.S. control to the Panamanians. Between that time the U.S. agreed to pay $10 million for control of the Canal until 1999. Also an annuity of $250,000 was tacked on and we promised independence for Panama. Each year the price we pay for the canal rises. The total in 1995 was $100.2 million due to certain provisions of the treaty. (1.)The treaty also set up the Panama Canal Commission Organization (PCCO). The PCCO is a part of the executive branch of the United States. It was enacted to manage, operate, and maintain the canal until the term ends on December 31, 1999. The commission is expected to recover all costs of operating and maintaining the canal through tolls and other revenue. This includes interest, depreciation, capital for plant replacement, expansion, improvements, and payments to the Republic of Panama for Public services and annuities. The revenues are deposited into a U.S. Treasury accounted known as Panama Canal Revolving Fund. (3.)The tolls being paid are bas…

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