Panama City, Panama is founded.

Panama City, also known as Panama, is the capital and largest city of Panama. It has a total population of 410,354 in the city proper and 1,086,990 in the Panama District, which includes the outer corregimientos of the city. The metropolitan area has over 2,100,000 people. The city is located at the Pacific entrance of the Panama Canal, in the province of Panama. The city is the political and administrative center of the country, as well as a hub for banking and commerce.