1. Indian citizens require visa to enter Panama.

 According to the Executive Decree 591 dated December 28, 2016 (Article 1 & 2) of the Ministry of Public Security, Republic of Panama, all citizens of restricted nationalities holders of visa or permanent residence of any country of the European Union, must undergo the process for obtaining visa to enter Panama.
Any person of a country that requires visa to enter Panama, holder of visa or valid permanent residence, duly issued by the US, Australia, Canada and the UK, will be able to enter the national territory and such visa granted by the aforementioned countries must be multiple entry visa, used previously at the country issuer of the visa and its validity cannot be less than 1 year when entering Panama.”
Disclaimer: As Visa rules are subject to change from time to time, for latest and authentic information on requirements for Panama visa, kindly contact the Embassy of Panama in New Delhi or Panama Consulate in/ nearest to your country of residence.

2. Indian citizens require visa to enter Costa Rica

Indian nationals are under the category "Group with Requirement of Consular Visa"
There are following exceptions to this Category;
If a national of a country that requires visa, possess a multiple entry (Tourist/Business or Crew member) US visa (exclusively Type B1-B2, D or C1/1) with the minimum validity of six months at the time of entry in Costa Rica, they do not require visa to enter Costa Rica.
If a person holds a multiple entry Canada visa, he/she does not require Costa Rican visa.

If a person has legal residence card in US, Canada or EU countries, he/she does not require Costa Rican visa.

Disclaimer: As Visa rules are subject to change from time to time, for latest and authentic information on requirements for Costa Rican visa, kindly contact the Embassy of Costa Rica in New Delhi or nearest to/in your country of residence.

(Instances have come to the notice, where Indian nationals lost their passports or passports stolen, besides other belongings, in Costa Rica under various circumstances. Indian nationals are advised to be careful about their travel documents).

3. Indian citizens require visa to enter Nicaragua

The citizens of India are included in category ‘C’’ Visa consulted for ordinary passport, having to make the application for entry visa in the nearest consular representative of Nicaragua. Application can be made in the country of origin or country of residence. The validity of the visa is for 30 days, which may be extended for a further 60 days, up to 90 days. Nicaraguan Embassy in Tokyo is concurrently accredited to India. Nicaragua has Honorary Consuls General in Delhi and Mumbai. The details of their Delhi Consulate are as under: 43-A, Prithviraj Road, New Delhi 110011 Telephone: (+91)-11-24694469 , Fax: +91-11-23221173, e mail-vcb@dabur.com.
Those who carry diplomatic, official and service passports, they are included in migratory category ‘’A’’-  exempt from visa.
Disclaimer: As Visa rules are subject to change from time to time, for latest and authentic information on requirements for Nicaraguan visa, kindly contact the Honorary Consulate General of Nicaragua in New Delhi or nearest to/in your country of residence.