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Panama City: A boomtown with growing pains – The canal expansion and an influx of firms are transforming the city, but its infrastructure is sorely inadequate. From: latimes.com
Tagged: Panama, RSSPosted on: June 17th, 2008
The explosions that shatter the early morning quiet here are perfect metaphors for another kind of boom, the economic one transforming Panama’s capital.
The blasts a few miles north of the city are part of the first phase of the $5.25-billion Panama Canal expansion project. They are clearing a path for new locks that will modernize the historic waterway and, in 2014, enable bigger ships to traverse the isthmus.
This country’s economy grew 11% last year, in large part because of expectations of continued prosperity resulting from a bigger and busier canal. But there is more going on in Panama than just a massive public works project.”*
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Filed Under: Business, Business News, International
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