L.R.
Please get a lawyer in the U.S. immediately -- one who is experienced in international adoptions and preferably one who has actually handled adoptions from Panama! (You will find heaps of them who have handled adoptions from China or Russia but you may have to work harder to find one with experience with Panama--if you can't, find one who is willing to do some research.)
I have not been in your shoes but know people who have, and the best and safest way to ensure that you are 100 percent OK is going to be having a lawyer well versed in international adoptions.
While asking other parents for their experiences is fine, and a good starting point, it is not legal advice. Web sites can be OK or they can have outdated information on them. I'm seeing "I hear...." and "I am wondering" in the post which is why you need expert help. If you go on what other parents say or what you hear or see online only, you could end up unable to bring your child into the U.S. at the last moment.
I would absolutely also forge a relationship, even if only by e-mails and phone calls, with a contact person at the U.S. consulate in Panama City (if that's the right location), someone you can see and talk to every time you have a question. Surely someone there is tasked with answering questions about adoptions out of Panama. Good luck.