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Nicaragua canal bid 'aims to deflect from poverty'

Tuesday, June 19, 2012


Nicaragua's plans to carve out a $30 billion alternative to the Panama Canal are what analysts say is a large, financially untenable project, aimed primarily at detracting from crushing poverty.

International investors have expressed interest in contributing funds, and the Nicaraguan government plans to conserve 51 percent of shares.

But a behemoth project like the Nicaragua Canal is an illusion that policymakers may hope will deflect from poverty, said analyst Carlos Tuennerann.




Source: AFP