Word: panamanians
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Last week President Reagan announced that the U.S. would withhold $6.5 million in fees collected by the Panama Canal Commission and scheduled to be paid to the Panamanian government this week. The money was held, said Washington, at the request of Delvalle, whom the U.S. continues to recognize as Panama's President. Reagan also suspended trade preferences that will affect $96 million in commerce between the U.S. and Panama. There will be no "business as usual" with the Noriega regime, the President said. Secretary of State George Shultz argued that a severe economic squeeze would force Noriega out. Other officials...
That is most apparent in Panama City, dotted with gleaming bank towers. Minimal banking regulations have turned Panama into a global financial center and an alleged haven for profits from worldwide narcotics sales. Hundreds of international firms have opened Panamanian offices to save money on taxes, while dozens of shipping companies register their boats there. The resulting wealth has made Panamanians wary of upsetting the status quo -- even where Noriega is concerned. The National Civic Crusade, a coalition of business and professional groups, called off a general strike two weeks ago, when the action threatened to damage the economy...
...even as the U.S.-Panamanian showdown grew more bitter, rumors circulated that the two sides might strike a deal. According to Elliott Abrams, Assistant Secretary of State for Inter-American Affairs, a Noriega envoy had asked whether the indictment could be withdrawn. "The general is willing to go, but he's not going to be dragged out like a dog," said a Panamanian who knows the general well. Another Panamanian hinted that the leader might consider retiring on April 23, the 25th anniversary of his entrance into the Defense Forces. A second possible date: Aug. 12, when Noriega completes...
...Defense Forces remain intact. Although the U.S. might be willing to give him those assurances, Administration officials face another hurdle: Noriega does not trust them. "The way he sees it, he was loyal to the U.S. for many years. After all that, he was betrayed," says a former Panamanian official. In fact, despite the feelers Noriega has sent to the State Department and the Pentagon, he continues to vow publicly that "the only way this general is leaving is $ dead." Meanwhile, the majority of Panamanians watch and wait, many wishing that Washington would somehow remove the general...
...canal, although the treaty prohibits such charges. At the rate of 1.25 cents a ton, the levy could raise as much as $2.5 million a year. But the penny-wise move could have pound-foolish results. In retaliation, Washington has threatened to revoke a fee exemption enjoyed by Panamanian ships at U.S. ports. The amount: 50 cents...