For over 300 years, the Spanish ruled Panama. Struggles to gain control of many of the Central American countries continued for decades. In 1821, Panama gained independence from Spain only to join what was then Colombia later that same year. In 1846, a treaty between Colombia and the United States was signed, permitting the U.S. to construct a railway across the country.
According to the Panama Papers, Zimplats Holdings, a large platinum mining concern, set up a shell company to pay the salaries of its senior managers. Zimplats denies knowledge of the company, HR Consultancy.[485] The company, which was still active in 2015, was unknown to the Reserve Bank of Zimbabwe,[485] which may indicate externalization of funds and tax evasion if, as it appears, the salaries were for citizens of Zimbabwe performing work in Zimbabwe.[485]
The firm is Panamanian but runs a worldwide operation. Its website boasts of a global network with 600 people working in 42 countries. It has franchises around the world, where separately owned affiliates sign up new customers and have exclusive rights to use its brand. Mossack Fonseca operates in tax havens including Switzerland, Cyprus and the British Virgin Islands, and in the British crown dependencies Guernsey, Jersey and the Isle of Man.
Showbiz personality Carmen Lomana said that after the death of her husband, owner of the offshore company, she took care of it but without knowing anything at all about the business or about tax. Bertín Osborne, host and Spanish singer, and the famous actor Imanol Arias, protagonist of one of the longest and most important series of the Spanish television, Cuéntame cómo pasó, were named. Osborne said his account was legal and that he used it as recommended, to save money. He is also involved in a scandal over fraud to the Treasury, with actress and fellow protagonist on the series, Ana Duato. Juan Luis Cebrián, journalist, co-founder of El País, and CEO of Prisa, a Spanish media conglomerate, owns 2% of Star Petroleum, a related oil corporation with tax havens. After being named, he decided to take legal action against La Sexta, who revealed his involvement in this scandal.[271][272][273][274][275][276]

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The development in this once unincorporated part of Northwest Florida had previous names such as Floriopolis, Park Resort, and Harrison.[7] In 1906, the development was named Panama City and it was first incorporated as Panama City in 1909. When Panama City was incorporated in 1909, its original city limits were 15th Street (Hwy 98) on the north, Balboa Avenue on the west and Bay Avenue on the east. According to the Panama City Public Library's A History of Panama City,[8] George Mortimer West hoped to spur real estate development in Bay County during a period of intense popular interest in the construction of the Panama Canal by changing the town's name from Harrison to Panama City, because a straight line between Chicago and the capital of the Central American country of Panama intersected the Florida town. Additionally, since required meanders around land formations in a seaborne route to the canal added distance when starting at other ports, Panama City was the closest developed port in the US mainland to the Caribbean entrance of the Panama Canal.

Since 1914 the 51-mile- (82-km-) long Panama Canal, which connects the Atlantic and Pacific Oceans, has afforded a long-sought shortcut for shipping and assures the country’s standing as one of the most strategic transportation hubs of the world. The canal also secures Panama’s ongoing role in international affairs and world commerce. The United States relinquished jurisdiction of the Panama Canal on December 31, 1999, marking an unprecedented shift in Panamanian society. For the first time in nearly a century as an independent nation, Panama controlled the entirety of its national territory.
Climatic regions are determined less on the basis of temperature than on rainfall, which varies regionally from less than 1,300 millimeters (51.2 in) to more than 3,000 millimeters (118.1 in) per year. Almost all of the rain falls during the rainy season, which is usually from April to December, but varies in length from seven to nine months. In general, rainfall is much heavier on the Caribbean than on the Pacific side of the continental divide. The annual average in Panama City is little more than half of that in Colón. Although rainy-season thunderstorms are common, the country is outside the hurricane belt.
In 2008–2009, the Beny Steinmetz Group Resources (BSGR) and its owner Beny Steinmetz paid just $165 million for the mining rights to the northern portion of Simandou mine, located in the Nzérékoré region of Guinea's interior. Soon after, he sold 51 percent of the rights to Vale for $2.5 billion. Rio Tinto, which had previously held the concession, had invested $450 million into infrastructure at the site.[458] Global Witness says BSGR in fact paid nothing for the rights, and the $165 million represents BSGR's self-reported investment in improvements at the site. It adds that either way BSGR's profit exceeded the national budget of Guinea.[459]
Aristóteles Núñez, in charge at the time of the government's tax administration, Servicio de Administración Tributaria, said that people involved in the Panama Papers case can still make tax declarations and pay taxes on their investments. Being Mexican and having foreign investments or bank accounts is not a crime, but having income and not declaring it is illegal. If investments are categorized as tax evasion, fines of up to 100% of the omitted tax payment can result, as well as three months to nine years imprisonment.[406]

The Mossack Fonseca files show Khashoggi appeared as early as 1978, when he became president of the Panamanian company ISIS Overseas S.A. The documents reveal that Fonseca's clients included Sheikh Kamal Adham, Saudi Arabia's first intelligence chief (1963–79), brother-in-law of King Faisal, who was named by a US Senate committee as the CIA's “principal liaison for the entire the Middle East from the mid-1960s through 1979”. Adham controlled offshore companies involved in the B.C.C.I. banking scandal.[380]
Panama was under Spanish rule for almost 300 years (1538–1821), and became part of the Viceroyalty of Peru, along with all other Spanish possessions in South America. From the outset, Panamanian identity was based on a sense of "geographic destiny", and Panamanian fortunes fluctuated with the geopolitical importance of the isthmus. The colonial experience spawned Panamanian nationalism and a racially complex and highly stratified society, the source of internal conflicts that ran counter to the unifying force of nationalism.[19][page needed]
Public education began in Panama soon after it seceded from Colombia in 1903. The first efforts were guided by an extremely paternalistic view of the goals of education, as evidenced in comments made in a 1913 meeting of the First Panamanian Educational Assembly, "The cultural heritage given to the child should be determined by the social position he will or should occupy. For this reason education should be different in accordance with the social class to which the student should be related." This elitist focus changed rapidly under US influence.[82]
The development in this once unincorporated part of Northwest Florida had previous names such as Floriopolis, Park Resort, and Harrison.[7] In 1906, the development was named Panama City and it was first incorporated as Panama City in 1909. When Panama City was incorporated in 1909, its original city limits were 15th Street (Hwy 98) on the north, Balboa Avenue on the west and Bay Avenue on the east. According to the Panama City Public Library's A History of Panama City,[8] George Mortimer West hoped to spur real estate development in Bay County during a period of intense popular interest in the construction of the Panama Canal by changing the town's name from Harrison to Panama City, because a straight line between Chicago and the capital of the Central American country of Panama intersected the Florida town. Additionally, since required meanders around land formations in a seaborne route to the canal added distance when starting at other ports, Panama City was the closest developed port in the US mainland to the Caribbean entrance of the Panama Canal.
Guinean President Alpha Condé launched an investigation after he was elected in 2010. Separately, so did the US Federal Bureau of Investigation (FBI) and the US justice department, suspecting violations of the Foreign Corrupt Practices Act. In August 2014 Mossack Fonseca received a Tax Information Exchange Agreement (TIEA) notice from the US government inquiring into ownership of Pentler and two other BSGR companies administered by Mossack Fonseca's Geneva office. However, the president of Pentler's financial management firm, Menachem Eitan, was a fugitive from the US SEC facing charges over a $55 million Ponzi scheme.[460]
The Río Chagres is one of the longest and most vital of the approximately 150 rivers that flow into the Caribbean. Part of this river was dammed to create Gatun Lake, which forms a major part of the transit route between the locks near each end of the canal. Both Gatun Lake and Madden Lake (also filled with water from the Río Chagres) provide hydroelectricity to the former Canal Zone area. The Río Chepo, another major source of hydroelectric power, is one of the more than 300 rivers emptying into the Pacific.
Undergoing redevelopment, the old quarter has become one of the city's main tourist attractions, second only to the Panama Canal. Both government and private sectors are working on its restoration.[30] President Ricardo Martinelli built an extension to the Cinta Costera maritime highway viaduct in 2014 named "Cinta Costera 3" around the Casco Antiguo.[31]
President of the Nigerian Senate Bukola Saraki was found, through the Panama Papers leak, to have ties to at least four offshore companies he failed to declare to the Code of Conduct Bureau as Nigerian law requires.[463] His wife Toyin also had shell companies listed in her name in the Mossack Fonseca documents:[463] Girol Properties Ltd, Sandon Development Limited and *Landfield International Developments Ltd. Saraki has said that the assets in these holding companies belong to his wife's family and therefore he was not required to report them. ANCIR dismisses this because:
Initially, only select names of politicians, public officials, businessmen, and others involved were revealed. One of the immediate consequences of the revelations was the April 4, 2016, resignation of Iceland's Prime Minister Sigmundur David Gunnlaugsson. On May 9, all of the 214,488 offshore entities named in the Panama Papers became searchable via a database on the website of the International Consortium of Investigative Journalists (ICIJ). 
The ICIJ investigation traces out many levels of offshore holdings in multiple countries related to the business dealings of Beny Steinmetz, with many serious findings such as a request that Mossack Fonseca backdate the revocation of a power of attorney.[18] Mossack Fonseca records show that Sierra Leone diamond exporter Octea, based in the British Virgin Islands with the Steinmetz family as its beneficiaries, is wholly owned by Guernsey-based BSGR Resources, linked to a bribery scandal in Guinea. Foundations in Switzerland and Liechtenstein, among them Nysco and Balda, own BSGR. In 2007, one of Nysco's bank accounts contained $27.7 million. 

As of the census[3] of 2010, there were 36,484 people, 14,792 households, and 8,613 families residing in the city. The population density was 1,245.2 people per square mile (481.3/km2). There were 17,438 housing units at an average density of 595.2 per square mile (230.1/km2). As of the census[3] of 2010, the racial makeup of the city is 71.6% White, 22.0% African American, 1.6% Asian, 0.5% Native American, 0.1% Pacific Islander, 2.9% from two or more races, and 5.1% Hispanic or Latino of any race.
The city has both public and private schools. Most of the private schools are at least bilingual. Higher education is headed by the two major public universities: the University of Panama and the Technological University of Panama. There are private universities, such as the Universidad Católica Santa María La Antigua, the Universidad Latina de Panama, the Universidad Latinoamericana de Ciencia y Tecnología (ULACIT), the Distance and Open University of Panama (UNADP), Universidad del Istmo Panama, the Universidad Maritima Internacional de Panama, and the Universidad Especializada de las Americas. Also, there are Panama Branches of the Nova Southeastern University (its main campus is in Ft. Lauderdale in Broward County, Florida); the University of Oklahoma; the Central Texas University; the University of Louisville which runs a sister campus in the city,[36] and the Florida State University, which operates a broad curriculum program[37] in an academic and technological park known as Ciudad del Saber.
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