Economic Sanctions Against Panama & U.S. Security

INTRODUCTION

This research examines United States (US) national security in the context of the application of economic sanctions against the Republic of Panama in 1988 and 1989. The topic is examined through (1) a brief review of the history of AmericanPanamanian bilateral relations, (2) an assessment of the potential effects on Panama of economic sanctions, (3) an examination of approach of the United States government toward the use of economic sanctions, and (4) the results achieved by the United States through the application of economic sanctions against Panama. The final section of this research presents a statement of the conclusions drawn from the findings of the research.

HISTORICAL REVIEW OF AMERICANPANAMIAN

In the process of throwing off the Spanish yoke more than 150 years ago, the territories of northern South America and southern Central America formed the country of Gran Colombia (Meditz, and Hanratty, 1989). The territory of the contemporary state of Panama was a part of the Panama Department of Gran Colombia.

The people who lived in the Panama Department had, or at least displayed, no strong sense of national identity at that time. Political opportunists, however, attempted, for personal financial gain, on three occasions to establish an independent state in Panama (Meditz, and Hanratt

. . .
s external debt is comprised of loans to both government and private sector organizations in the country. Loans involved in a country's external debt are extended by other governments, by international organizations (primarily the International Monetary Fund and The World Bank), and by private sector lenders in other countries (primarily banks, but also by investors who buy bonds and other debt obligations). In the 1970s, the developing countries required capital for 8development, and they had populations clamoring for some of the economic benefits enjoyed by the residents of the developed countries. At that same time, commercial banks in the developed countries were awash in money. The successful strategies of the Organization of Petroleum Exporting Countries (OPEC) in the 1970s have resulted in the transfer of enormous volumes of money from the developed countries to the OPEC countries. The OPEC countries required safe havens for their newly acquired capital, and banks in the developed countries provided those havens. The banks in the developed countries, after acquiring the OPEC money, needed borrowers for massive amounts of capital. The union of OPEC money and developing countries, with western banks as marriage
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Approximate Word count = 3594
Approximate Pages = 14 (250 words per page)

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