Panama Canal Republic of Panama (fit in, real estate, transfer)

[sunrico90]

Can someone provide an update to the current status of the Panama Canal. I was stationed in Albrook AFS from 1984 -88 and will like to know what is the latest on the canal...

[recycled]

Panama Canal was completely turned over to Panama to own and operate in 1999. It was jointly managed from 1979 to 1999 by US and Panama after treaty signed by Jimmy Carter in 1977.
Big talk in Panama now is weather or not to enlarge canal to allow passage of new class of super containers and super tankers that currently don't fit in the canal. The super containers mainly take Asia to Long Beach routes, and the super tankers mainly take Mid East to Atlantic or Gulf Coast ports routes.
There are many long time employees of canal today that have worked there for decades, including some "zonies" that were born in the old US controlled canal zone who now work for the Panamanian controlled canal company.
Lots of development going on in the old "zone", because there's lots of money that's moved into Panama. Some of that money is a bit tainted from Columbian drug lords that use real estate or business investments in Panama as a laundry for their cash. But Panama is also one of the largest banking centers in the Americas because of its fairly stable situation, good location and friendly business environment.

[sunrico90]

Thanks for the update, I was transferred to Florida in 1988, but had many friends in the Corozal, Diablo Heights, and Balboa area and they also relocated back to the US. I know a few USAF members that retired in Panama because of the cost of living and easy access to US facilities... Life was really good in those days..