An awful year for the Panamanian economy, a year in which the cause of world peace has suffered terrible setbacks, is nevertheless drawing to a close with some reasons for optimism and hope.

Our lead story, to be found in the News section, is about the recovery of a ship that's believed to be the Vizcaina, which Christopher Columbus abandoned off Playa Dama (between Nombre de Dios and Palenque) in 1504. This effort has been the object of some bickering, and the value of the discovery is misunderstood by too many Panamanians, but on balance it's a wonderful story, one whose ultimate chapters could be about boosted tourism and scholarly research. The photo above is of a ceramic amphora recovered from the site, still sealed after all of these years.

President Moscoso continues her slow upward progress in the public opinion polls. Most Panamanians, this editor included, are disappointed by her performance so far but wish her more success in the remainder of her term. That's because we know that any government's accomplishments or failures inevitably affect the fortunes of many ordinary people who aren't responsible for what the politicians do. As New Year's approaches, it seems likely that some large-scale public works projects that we need to reactivate our economy are actually going to get underway in the coming year.

There are, as usual, many allegations flying around the political scene. Sadly, too much of the bochinche is true. How bad is it? In our lead Opinion piece, veteran journalist Michelle Lescure holds forth on corruption, and whether it leaves much hope for our own profession.

Even within the sad context of a world at war, we see a few signs of hope. The Colombian government and the ELN rebels have started talking again, and the peace process between Bogota and FARC still has a chance. It seems that new peace processes are about to get underway in Sri Lanka and the Philippines. However, the situation in the Holy Land seems to be getting worse every day, and that's the subject of my column in the Opinion section this time.

Also in the Opinion pages you will find the AIDS Day message by the World Health Organization director, Dr. Gro Harlem Brundtland. The UN's and WHO's annual report on the AIDS epidemic can be found on our Science page. Both articles are tales of sadness but also hope.

The Outdoors feature could have gone in the Science section as well - it's a Conservation Media Center story about progress in gathering information that can save endangered tapir populations.

Our Community section this time also contains brief coverage of the forces of hope that are at work in Panama - the US Embassy just swore in a new batch of Peace Corps volunteers.

The Panama News has not been a "joiner" in the business and industry associations, for various reasons. However, the other night we were one of two businesses represented at a community meeting. A cop presided at a gathering of the Perejil neighborhood watch, more formally called "Vecinos Vigilantes." The some 50 people assembled, mostly middle aged, middle class and long-time residents, heard National Police Lieutenant Cortes talk common sense and appeal for help. All sorts of things can happen anywhere in the city, but it was somehow reassuring that those few with specific personal horror stories to tell told tales of offenses running a gamut from burglary through purse snatching on Avenida Central to loud neighbors and kids with no respect. The area has its problems, but a sense of civilization still prevails here.

The big question is whether the neighbors will see us - and the lady who runs the fonda, who was also at the meeting - survive and prosper. How much hope is there for The Panama News?

Our financial state has been grim this year and things continue to go badly, but we hope to get by with a little help from our friends.

You can help us to survive by sending your donations, or by buying copies of my book "9°N" ($25, which includes postage) or Panama News coffee mugs ($10, including postage). Send your checks or money orders to:

The Panama News Apartado 55-0927 Estafeta Paitilla Panama, Republic of Panama

Have a happy holiday season, and I thank you for your support. We plan to upload the next issue, which will start our eighth year of publication, on or about December 29.