This Is a List of Presidents of Panama. The President of Panama is the leader of Panama. The President is the highest political official position in Panama by influence and recognition, he also has the most power out of everyone.The President is also the Commander-in-Chief of the Panama armed forces. The President is elected through popular vote to a four year term in office. Currently there is no accepted or constitutional limit on the number of terms a president can have, although precedent dictates two or three terms per president.