Memorandum Terminating Economic Sanctions Against Panama

Memorandum for the Secretary of State and the Secretary of the Treasury

Subject: Panama

The democratically elected government is now in place in Panama. With respect to that government, I hereby direct you to lift the economic sanctions imposed by Executive Order No. 12635. Therefore, payments from the United States and payments by U.S. persons in Panama to that government are not prohibited. You are directed to take steps to ensure that the prohibitions will not be applied to that government of Panama and in cooperation with that government to effect an orderly unblocking of Panamanian government assets in the United States.

George Bush