Blas Perez and Roman Torres netted the goals for Panama, who now face the United States in the final after a result which will heap pressure on Jose Manuel de la Torre as Mexico coach.
The US reached the final with a comfortable 3-1 win over Honduras.
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Liverpool have unveiled their new home kit for next season, sticking with the hugely popular retro styling of the current shirt.
The reputation of the Premier League means it is the most popular and one of the most watched leagues in the world.