Panama is the southernmost country in the Central American isthmus, southeast of Costa Rica and and just above Colombia on the map. Unfortunately not a lot of playing cards have been produced in Panama, only a couple of locally-produced tourist souvenir packs. Apart from that there is the range of Panama Canal Souvenir playing cards published by the U. S. Playing Card Co. between 1908 - 1926. No Spanish-suited packs are known and there is little literature on the subject. There was a tax imposed on Panamanian playing cards between c.1917-1926.
Left: box from Panama Canal souvenir playing cards, unknown manufacturer (image grabbed from the Internet).