My lady and I visited the Panamonte on the advice of a local expat, but forgot to sit in the bar (as other reviews suggest.) Consequently, we had fantastic food in a mediocre atmosphere. Nearly every customer in the dining room but ourselves was a deeply antiquated expat or expat's friend, and several of them were wearing a gallon of perfume as is their wont. My lady stuffed up and my chest got a bit tight by the end of the meal.
I had a local filet de Angus that was among the tenderest cuts of meat of ANY variety that I've ever had, cooked perfectly and served in an outstanding reduction of red wine with mushrooms. WIth beverages, the meal came to thirty dollars; upscale for Panama, but easily less than half the cost of a similar meal back home.
Do your best to visit on a weekday, when it should be less crowded; Eat in the bar, where you can get the same cuisine as the dining room, in a more pleasant setting.