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Capacity constraints: Panama’s major asset needs modernizing and expanding if it is to take advantage of growing shipping flows |
Panama’s economy is set to face the biggest challenge in the Republic’s 100-year history. A key decision on whether to press ahead with a project to increase the capacity of the Panama Canal and, more important, to find a way to pay the $5 billion it will cost, is due to be taken shortly.
The newly elected government of Martin Torrijos is close to going public on an expansion proposal following a key meeting of the Panama Canal advisory board, headed by Panama’s minister for economy and finance, Ricaurte Vasquez, in Santiago Chile, last month.
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