It borders both Panama & Nicaragua
... Twice 
a week one can also cross the Nicaraguan border via Los Chiles ... Bocas del 
Toro is the state on the Caribbean Coast of Panama bordering Costa Rica... [DOC] [TLE] Border Crossing Costa Rica to Panama and Nicaragua - CRStours [PAR] Recently it is mandatory to pay a departure tax if you are travelling overland from 
Costa Rica to Panama or Nicaragua.