Glossary -- Panama
- ADO
- Alianza Democr*atica de Oposición (Democratic Opposition
Alliance). Opposition alliance of three major parties and several
smaller parties formed to contest the 1984 elections. Remained
officially in place in late 1987.
- balboa (B)
- Panama's monetary unit, in practice consisting only of coins.
Official value is B1 equals US$1. United States currency used for
paper money.
- CCN
- Crusada Civilista Nacional (National Civic Crusade).
Business-led coalition that organized popular civic opposition to
government and FDP (q.v.) in 1987 demonstrations and
unrest.
- Central America
- Region between Mexico and Panama including present- day Belize,
Guatemala, Honduras, El Salvador, Nicaragua, and Costa Rica.
- CFZ
- Colón Free Zone. Free-trade zone in Panama. Goods from foreign
countries are landed and stored or repackaged there and shipped
onward without being subject to Panama's customs duties.
- Contadora peace process
- A diplomatic initiative launched by a January 1983 meeting on
Contadora Island off the Pacific coast of Panama, by which the
"Core Four" mediator countries of Mexico, Venezuela, Colombia, and
Panama sought to prevent through negotiations a regional
conflagration among the Central American states of Guatemala, El
Salvador, Honduras, Nicaragua, and Costa Rica. In September 1984
the negotiating process produced a draft treaty, the Contadora
Acta, which was judged acceptable by the government of
Nicaragua but rejected by the other four Central American states
concerned. The governments of Peru, Uruguay, Argentina, and Brazil
formed a Contadora Support Group in 1985 in an effort to revitalize
the faltering talks. The process was suspended unofficially in June
1986 when the Central American governments refused to sign a
revised Acta. The Contadora process was effectively
superceded by direct negotiations among the Central American
states.
- DENI
- Departamento Nacional de Investigaciones (National Department
of Investigations). Undercover secret police.
- Eurocurrency
- A country's currency on deposit outside the country. Most
Eurocurrency claims are Eurodollars, which are dollar claims on
banks located outside the United States. The Eurocurrency market is
a wholesale market.
- FDP
- Fuerzas de Defensa de Panam*a (Panama Defense Forces). Panama's
military forces. Includes former National Guard as well as all
military and police forces. FDP commander was de facto head of
government in late 1987.
- fiscal year (FY)
- Calendar year.
- FRAMPO
- Frente Amplio Popular (Broad Popular Front). Small left-of-
center party that was part of pro-government coalition, UNADE
(q.v.), in 1984 elections, but lost legal status by
failing to win 3 percent of total vote.
- GDP
- gross domestic product. A measure of the total value of goods
and services produced by the domestic economy during a given
period, usually one year. Obtained by adding the value contributed
by each sector of the economy in the form of profits, compensation
to employees, and depreciation (consumption of capital). The income
arising from investments and possessions owned abroad is not
included, only domestic production. Hence, the use of the word
"domestic" to distinguish GDP from GNP (q.v.).
- GNP
- gross national product. Total market value of all final goods
and services produced by an economy during a year. Obtained by
adding GDP (q.v.) and the income received from abroad by
residents less payments remitted abroad to nonresidents.
- IMF
- International Monetary Fund. Established along with the World
Bank (q.v.) in 1945, the IMF is a specialized agency
affiliated with the United Nations that takes responsibility for
stabilizing international exchange rates and payments. The main
business of the IMF is the provision of loans to its members when
they experience balance-of- payment difficulties. These loans often
carry conditions that require substantial internal economic
adjustments by the recipients.
- mola
- Literally, clothing, dress, or blouse in Cuna dialect, but has
come to mean simply the single panel of a Cuna woman's appliqued
blouse. The panels feature colorful, intricately stitched, abstract
or geometric designs; scenes of everyday Cuna life, lore, myths,
legends, flora, and fauna; or ideas or images from the outside
world.
- MOLIRENA
- Movimiento Liberal Republicano Nacional (National Liberal
Republican Movement). Pro-business coalition of several
center-right political movements. Part of opposition coalition ADO
(q.v.).
- offshore banking
- Term applied to banking transactions conducted between
participants located outside the country. Such transactions
increased rapidly worldwide after the mid-1960s because of the
growth and liquidity of Eurocurrency (q.v.) markets.
- PALA
- Partido Laborista Agrario (Labor and Agrarian Party, often
referred to simply as the Labor Party). Despite title, generally
right-of- center, pro-business. Part of pro-government coalition,
UNADE (q.v.).
- Panama Canal net ton
- Measure used to assess tolls for the Panama Canal based on 100
cubic feet of a vessel's net earning capacity, usually meaning its
cargo space.
- PAPO
- Partido de Acción Popular (Popular Action Party). Minor
independent party that contested 1984 elections but lost legal
status by failing to garner 3 percent of total vote.
- PDC
- Partido Demócrato Cristiano (Christian Democratic Party).
Centrist opposition party. Part of opposition coalition, ADO
(q.v.).
- PdP
- Partido del Pueblo (People's Party). Far left, orthodox
communist, pro-Moscow party. Ran candidates in 1984 elections, but
lost legal status by failing to win 3 percent of total vote.
- PLN
- Partido Liberal Nacional (National Liberal Party). Generally
right-of- center. Part of pro-government coalition, UNADE
(q.v.).
- PNP
- Partido Nacionalista Popular (Popular Nationalist Party). Minor
party that contested 1984 elections, but lost legal status by
failing to receive 3 percent of total vote.
- PP
- Partido Panameñista (Panameñista Party). Small break-away
faction of Panameñistas. Part of pro-government coalition, UNADE
(q.v.), in 1984 elections, but lost legal status by
failing to win 3 percent of total vote.
- PPA
- Partido Panameñista Auténtico (Authentic Panameñista Party).
Nation's leading opposition party. Strongly nationalist and
populist. Part of opposition coalition, ADO (q.v.). Led by
veteran politician Arnulfo Arias Madrid.
- PPP
- Partido Panameño del Pueblo (Panamanian People's Party). Far
left communist party.
- PR
- Partido Republicano (Republican Party). Right-of-center party.
Part of pro-government coalition, UNADE (q.v.).
- PRD
- Partido Revolucionario Democr*atico (Democratic Revolutionary
Party). Official government party founded by Torrijos. Part of pro-
government coalition, UNADE (q.v.).
- Roosevelt Corollary
- Policy enunciated by President Theodore Roosevelt in 1904
specifying that if a country in the Western Hemisphere failed to
maintain internal order or to pay its international debts, the
United States could intervene with military force to rectify the
situation. Policy was bitterly resented by Latin American nations.
- terms of trade
- Number of units that must be given up for one unit of goods
received, by each party (e.g., nation) to a transaction. The terms
of trade are said to move in favor of the party that gives up fewer
units of goods than it did previously for one unit of goods
received, and against the party that gives up more units of goods
for one unit of goods received. In international economics, the
concept of "terms of trade" plays an important role in evaluating
exchange relationships between nations.
- UNADE
- Unión Nacional Democr*atica (National Democratic Union). Pro-
government coalition of six parties formed to contest 1984
elections; remained officially in place in late 1987.
- World Bank
- Informal name used to designate a group of three affiliated
international institutions: the International Bank for
Reconstruction and Development (IBRD), the International
Development Association (IDA), and the International Finance
Corporation (IFC). The IBRD, established in 1945, has the primary
purpose of providing loans to developing countries for productive
projects. The IDA, a legally separate loan fund administered by the
staff of the IBRD, was set up in 1960 to furnish credits to the
poorest developing countries on much easier terms than those of
conventional IBRD loans. The IFC, founded in 1956, supplements the
activities of the IBRD through loans and assistance designed
specifically to encourage the growth of productive private
enterprises in less developed countries. The president and certain
senior officers of the IBRD hold the same positions in the IFC. The
three institutions are owned by the governments of the countries
that subscribe their capital. To participate in the World Bank
group, member states must first belong to the IMF (q.v.).
- Yankee
- Generally pejorative term used in Latin America to refer to
United States citizens.
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