Walking tours of Panama’s Casco Viejo (also known as Casco Antiguo) all stop by Plaza de Francia, where highlights include the obelisk, the Anita Villalaz Theater (Teatro Anita Villalaz), and the National Institute of Culture. At the southeast end of the square, you will find series of vaults (Las Bóvedas) once used as dungeons by the Spaniards and Colombians; they have since been converted into galleries, shops, and restaurants, but you can still admire some of the original brickwork.
Combine your visit with a tour of other Casco Antiguo sights, including the Metropolitan Cathedral (Catedral Metropolitan), the Church of San Jose (Iglesia de San José), and the Flat Arch (Arco Chato). Then, learn more about the troubled history of the Panama Canal at the Canal Museum (Museo del Canal Interoceánico de Panamá). Alternatively, opt for a bike tour and enjoy a view over Plaza de Francia and the obelisk from the Cinta Costera coastal pathway.