Nicaragua plans to build canal and give Panama run for its money

It would cost $20 billion and take approximately 10 to 12 years to construct. Yet Nicaragua’s government proposed constructing a canal connecting the Pacific and Atlantic Oceans. Though Nicaragua is one of the poorest nations in the Americas, president Enrique Bolaños views the canal as “necessary” regardless of whatever plans Panama has to expand its canal.

Ironically, the U.S. considered Nicaragua several times as the original site of a canal connecting the Pacific and Atlantic Oceans before deciding on the Panamanian isthmus.

Image- Yahoo! Travel(Map of Nicargua).

Links- Voice of America, Guardian UK, Wikipedia, Scotsman.com

Tags- Nicaragua, Panama, international economy