Panama tells yanks ‘thanks but no thanks.’

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Not so fast. The U.S. State Dept. was set to sell its 1930s-era Panama City embassy and clear around $14 million until the government of President Martin Torrijos reminded the gringos that they didn’t own the property.

Panama insists it leased the bay-front parcel in 1938 for 999 years. U.S. lawyers are reviewing the transaction. The new U.S. embassy being built in the former canal zone will be ready for occupancy this summer.

Posted by Chris Kraul in Panama