1.1 Three interesting facts about Panama

 • The third place of the most visited countries in Latin America is occupied by Panama.

Panama stands out as the third tourist power above Costa Rica, Chile and Argentina, due to its geographical location and favorable environment for doing business.

• The largest fleet in the world is conducted by boats that wave the flag of Panama.

Each merchant ship must register with a country, which is known as the flag state.

 Panama, the Marshall Islands and Liberia are the main flag states.

 About 8,600 ships fly the Panamanian flag. By comparison, the US has about 3,400 registered vessels and China just over 3,700.

• The Balboa is used exclusively in accounting terms, for this reason Panama does not have a traditional central bank.

The history of the National Bank of Panama is closely linked to that of the Republic. Founded six months after the birth of the Republic as Banco Hipotecario y Prendario.