The Nicaragua Canal project was first conceptualized in the early 1800s and has been considered many times since then, sometimes stalemated by investors' concerns about poverty and political instability.
Nicaragua plans to carve out a $30-billion alternative to the Panama Canal, in what analysts say is a large, financially untenable project, aimed primarily at detracting from crushing poverty.
A behemoth project like the Nicaragua Canal is an “illusion” that policymakers may hope will deflect from poverty, said analyst Carlos Tuennerann.
Project analysts remain doubtful it will survive short-term considerations, largely because of the international economic crisis and Nicaragua’s own political instability.
http://news.ph.msn.com/business/nicaragua-canal-bid-to-deflect-from-poverty-analysts-3