I've been spending time in Panama and building are either standard concrete block or M2 - a sandwich of stucco/galvanized steel mesh/foam/mesh/stucco. Any thoughts or experiences? Certainly the M2 system is beneficial where AC is used a lot.

I read that the stucco is supposed to be shotcreted on to get a compact layer, although I suspect that sometimes the stucco is done by hand. Also that M2 is used for ceilings. It is surprising that most buildings have no insulation. Electricity is over $.20 per KWh.