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January 8, 2014

Deal would end standoff over Panama Canal funds

  • The proposal would continue work for at least two months while a long-term solution is negotiated.
  • PANAMA CITY (AP) — The Panama Canal Authority said Tuesday that it wants to end a standoff over the expansion of the canal by splitting construction costs with the international consortium that was threatening to halt work unless the authority came up with $1.6 billion in extra funding.

    The authority said Tuesday that it would pay $183 million and Grupo Unidos por el Canal would put in $100 million to continue work for at least two more months while a long-term solution is negotiated.


     
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