Panama
Panama
- Capital
- Panama City
- Population
- 4,314,768
- Region
- Americas
- Languages
- Spanish
Panama is the only place in the world where you can see the sun rise over the Pacific Ocean and set over the Atlantic from the same spot. This unique phenomenon occurs at the summit of Volcán Barú, the country's highest peak, due to the specific curvature of the isthmus. Additionally, the Panama Canal generates its own complex weather patterns and requires millions of gallons of fresh water for every single ship transit. The country also famously uses the U.S. Dollar as its primary currency alongside the local Balboa, which exists only in coin form.
Currency
The official currency is the Panamanian Balboa, which carries the ISO code PAB and is pegged at a 1:1 ratio with the United States Dollar. Interestingly, the Balboa only exists in coin form, as the country uses U.S. banknotes for all paper currency transactions. Named after the explorer Vasco Núñez de Balboa, it was introduced in 1904 to replace the Colombian Peso after the country gained its independence.
Flag symbolism
The flag is divided into four quarters, featuring two stars and three distinct colors to represent the political climate at the time of its creation. The red quadrant symbolizes the Liberal Party, while the blue quadrant represents the Conservative Party, indicating the two forces that formed the nation. The white background signifies a commitment to peace between these opposing factions. Centered in the white squares, the blue star represents civic honesty and the red star represents the authority of law, together embodying the virtues of the new republic.
Emblem history
The Panamanian coat of arms features a central shield divided into five distinct sections that reflect the nation's transition to independence. The middle section displays the isthmus with its two seas, showing a moon rising and a sun setting to mark the exact hour of the country's secession from Colombia. Above this, crossed weapons signify a farewell to civil wars, while a shovel and mattock represent the labor dedicated to building the canal. The emblem is topped by an eagle holding a banner that reads 'Pro Mundi Beneficio,' highlighting Panama's role in serving the world through global trade.