Panama Nails Down Canal Funds

Oct 15, 2008

Infrastructure projects are being delayed across LatAm, but the strategically important Panama canal appears resilient. The Panama Canal Authority (PCA) has secured $2.3bn from multilaterals to finance expansion, bypassing an originally considered commercial bank tranche. The 20-year loan package includes a 10-year grace period and breaks down into $800m from...

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“The crisis has been a setback for reserve diversification."

Jan Dehn, Ashmore Investment Management