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Panama Referendum on Countdown
Amid campaigns in favor and
against, the debate on the
modernization of the Panama
Canal Zone is Wednesday in a
decisive phase that will end
with a national referendum on
October 22.
After signing Monday a bill by
President Martin Torrijos and
its publication in the "Gaceta
Oficial"
Tuesday, the country is starting
a process that will conclude
with a popular consultation on
the construction of three locks.
According to the Panama Canal
Authority (PCA), this monumental
expansion will cost $5.2
billion, and be done over seven
years starting in 2007.
The referendum will wind up a
process begun on April 24, when
the PCA directive board
delivered the proposal.
Two months later, the Cabinet
Council approved the initiative,
which was okayed Friday by the
National Assembly and then by
Torrijos.
After inking the bill, the
president defended the
modernization works of the
channel zone, stressing that it
will be "effective, competitive
and profitable."
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