The Panama Canal expansion will be one of the top issues relevant to Caribbean and Latin American port professionals, including navigation dredging, seaport security, expansion and port operating strategies.
Internal Taxes Will Not Be Used to Pay for Canal Expansion
Panama Canal Expansion Debated No Comments »(Source: prensa) Rodolfo Sabonge, The Director of Cooperative Planning and Trade for the Panama Canal Authority (ACP), said that statements made by General James Stravridis, the new head of the Southern Command, were “totally false.” Stavridis made a statement before the US Senate on 19 September saying that the plan to expand the Panama Canal will be partially financed by internal taxes on the Panamanian people. Sabonge said he had not idea where Stavridis got his information. Staviridis’ remarks were published in La Prensa yesterday. Sabonge said that “he has no way of knowing, because he has had nothing to do with the subject,” and reiterated that the project to expand the canal will be financed with toll increases. There were also references in the note yesterday to statements made by John Warner, the President of the Senate Armed Services Committee, in which he expresses “concern” that China might finances the expansion in order to gain “influence in the hemisphere”. Last week President Martin Torrijos told the Wall Street Journal that Chinese investors could provide part of the external financing, some $2.3 billion dollars, needed to expand the canal which will cost some $5.25 billion overall. Sabonge indicated that external financing could come “from anywhere” and not just from China.
(Source) By Steven Dudley McCLATCHY NEWSPAPERS: PANAMA CITY, Panama - Just days before a historic referendum Sunday on a $5 billion Panama Canal expansion to accommodate larger and more ships, polls show that a majority of Panamanians are poised to vote “yes.” Two-thirds of Panamanians support expanding the Panama Canal, according to polls earlier this month by Dichter & Niera and CID Gallup. This is up from just over half of respondents who said “yes” in August. Approval would allow the government to pursue the estimated $5 billion project that proponents argue is necessary for the long-term development and competitiveness of the country. “It would be a failure of the country” if Panama voted against the expansion, President Martin Torrijos said recently. It’s little surprise the canal referendum has caused a stir. The thin body of water connecting two oceans with a complicated series of locks and lifts has always been a source of pride and struggle for this country of more than 3 million people. Thousands died building it. Dozens more perished in the struggle to win control of the canal from the United States. Now, while most Panamanians are for the expansion, many wonder who the expansion will benefit.