Nicaragua: A Second Panama Canal?

Nicaragua: A Second Panama Canal?

The President of Nicaragua, Bolanos, proposed on Monday the international support to construct a second canal, wider than Panama, in response to “the world’s booming shipping business.” (1)

This project would cost no less than US$18 billion and would take approximately 12 yrs to build. If you’ve ever visited Panama and Nicaragua, the stark contrast between the two countries cannot escape one’s eyes. Panama is a small Europe with adorable crepe restaurants and the possibility of frolicking about in the city. This prosperity is largely if not entirely due to the building of the canal, originally planned to be constructed in Nicaragua.

People in Nicaragua are living in the third poorest country in Latin America and it shows. The economic benefits for such a country from the building of the canal would be tremendous. Nicaragua, however, a country of beautiful people, is torn by a political corruption that has surpassed the acceptable levels we all tolerate, regardless of the country we live in or the form in which the corruption is perceived. How will this corruption encourage the level of investment required to build the canal? This will have to be addressed and, frankly, I am uncertain as to what a solution would be.

Panamians are pitching to expand their canal to reduce the traffic it currently experiences and in order to be able to compete internationally in the case a Nicaraguan canal is built. The public believes this move will pass quite easily.

It makes me sad to see Nicaragua struggling to move forward and the country is, to be blunt, so much in the shits that only a tremendous and prosperous undertaking like the building of a canal could push its economy forward in a reasonable amount of time.

1. “Nicaraguan President Bolanos proposed on Monday the international support to construct a second canal, wider than Panama, in response to “the world’s booming shipping business.” (1)

This project would cost no less than US$18 billion and would take approximately 12 yrs to build. If you’ve ever visited Panama and Nicaragua, the stark contrast between the two countries cannot escape one’s eyes. Panama is a small Europe with adorable crepe restaurants and the possibility of frolicking about in the city. This prosperity is largely if not entirely due to the building of the canal, originally planned to be constructed in Nicaragua.

People in Nicaragua are living in the third poorest country in Latin America and it shows. The economic benefits for such a country from the building of the canal would be tremendous. Nicaragua, however, a country of beautiful people, is torn by a political corruption that has surpassed the acceptable levels we all tolerate, regardless of the country we live in or the form in which the corruption is perceived. How will this corruption encourage the level of investment required to build the canal? This will have to be addressed and, frankly, I am uncertain as to what a solution would be.

Panamians are pitching to expand their canal to reduce the traffic it currently experiences and in order to be able to compete internationally in the case a Nicaraguan canal is built. The public believes this move will pass quite easily.

It makes me sad to see Nicaragua struggling to move forward and the country is, to be blunt, so much in the shits that only a tremendous and prosperous undertaking like the building of a canal could push its economy forward in a reasonable amount of time.

1. “Nicaraguan President proposes second canal to complement Panama’s.” International Herald Tribune 2 Oct. 2006: IHT.com 3 Oct 2006 http://www.iht.com/articles/ap/2006/10/03/america/LA_GEN_Nicaragua_Canal.php

t proposes second canal to complement Panama’s.” International Herald Tribune 2 Oct. 2006: IHT.com 3 Oct 2006 http://www.iht.com/articles/ap/2006/10/03/america/LA_GEN_Nicaragua_Canal.php

 

By | 2011-10-13T14:56:35+00:00 October 3rd, 2006|Our Views|0 Comments

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