Looks like a nice place to hang out. http://news.bbc.co.uk/2/hi/uk_news/7130524.stm
The country has a dedicated "Retire to Panama" programme that invites expats over the age of 45 to live in the country as long as they can demonstrate a monthly income of just £200 and a further £35 for dependent family members.
I don't meet the minimum age requirement...yet. Then again, I could just go to Queensland.