"Panama" is the most popular song of Van Halen’s 1984 album. On the web are some speculations about why the name of this song. Here I mention a few.
The song was written about a stripper named "Panama", which David Lee Roth, Van Halen singer and song writer, met at a presentation in Arizona. The critics accused him of writing songs about hard partying, sex and race cars.
Another is that the song is about a car that Roth saw race in Las Vegas and the name of the car was Panama.
Despite all these assertions or theories, the name of Panama has a common origin, the country. The word has its origins of the Indians village called "Hanama" and the Spanish colonizers knew as Panama.
Any person, object or place named Panama, has its origin of its name on this country.