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109827 1 (1979-06-27)

handle is hein.gao/gaobadygi0001 and id is 1 raw text is: United States General Accounting Office Washington, D.C. 20548 For Release on Delivery Expected at 1:30 p.n. Wednesday, June 27, 1979 109827 Statement of J. Kenneth Fasick Director, International Division before the Senate Armed Services Committee - C on Panama Canal Treaty Implementing Legislatio5n Mr. Chairman and Members of the Committee: We are pleased to appear before you today to discuss the operational and financial issues involved in the implementation of the Panama Canal Treaty of 1977. In the 22 months since the signing of the Treaty, there has been an extensive analysis and useful debate over these issues. As the Comptroller General said to this Committee on February 1, 1978, We believe that the treaty implementing legisla- tion is the key determinant of the financial via- bility of the proposed Panama Canal Commission. With this in mind, we recently issued a staff study which provides an information source and data base on the critical issues. Our study Background Information Bearing Upon Panama Canal Treaty Implementing Legislation, dated June 4, 1979, has been provided to every member of Congress. Today, we would like to summarize the information in this study. With me is Frank Zappacosta, Assistant Director for our Accounting and Financial Reviews and Henry Avalos, Team Leader. 7e&tA

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