There's more than one place called '''Panama''':
Panama (Republic of Panama) - the country
Panama (province) - a province in the country Panama
Panama City (Panama) (Ciudad de Panama) - the capital of the country Panama, in the province Panama
Panama (Brazil) - a city in the state of Goias (Goias) in Brazil
Panama (Illinois)
Panama (Iowa)
Panama (Nebraska)
Panama (Oklahoma)
Panama City (Florida)
Panama City Beach - a suburb of Panama City (Florida)