The official currency is the US dollar. Formerly it was the Balboa, in honor of the Spanish Explorer Balboa (not Sylvester Stallone!)

Cost of living

Cable TV - (60 channels including HBO & Cinemax in English, CNN, English BBC, Discovery Channel, etc.), $40 per month.

Telephone - $6 to $40 per month, depending on whether or not you want 'free' minutes.

Mobile phones - There are several plans and companies available in Panama. Some sample fees: A simple service for one person starts at $10 per month, a plan with 500 'free' minutes costs $60 per month.

Internet - A DSL line is available that you can connect with an Ethernet card, to a LAN or to a PC with a USB port. The cost is $24 per month & up, depending on what bandwidth you want.

Electricity - $90 per month (running 2 air-conditioners 24 X 7)

Gas - No public gas mains exist, most people use small LPG tanks for gas stoves or grills.

Water - $8 up to 10,000 gallons