There are some countries that do not have holidays in Outlook.  I have found
one such example to be Panama.  I don't understand exactly what the reason is
for this exclusion, considering that other Central American countries are
included.  Just like these other countries (for example, Costa Rica), Panama
has its own strong national identity with its own distinct national holidays.
From a business perspective, it also has the strongest economy in Central
America and is a strong banking center.  Therefore, I don't think there is a
good reason to exclude it from the list.  I am not sure if other users have
found this same problem with their home countries, but the exclusion of
certain countries without a plausible reason is very unfair.