Hang on. I'm not sure we did the imperialism in Panama, did we? Wasn't that the Spanish and then the Yanqui?
It was the Jocks.
They decided they could have a get rich quick empire just like the English. They chose a bit of the Terra Del Darriens. And used about 20% of all the cash the country had. Failed by 1700, hence the Act of Union in 1707.