Panamanians Vote to Approve Canal Expansion, Exit Polls Say

Panamanians overwhelmingly approved a $5.25 billion plan to expand the Panama Canal and allow today’s super freighters to use the waterway, according to preliminary results from Sunday’s vote. Early returns show 79 percent of voters approved the plan in a poll seen as a vote of confidence for the government. The 92-year-old canal can no longer accommodate about a third of the world’s commercial cargo fleet, causing it to lose income. Opponents claim the money would be better spent on schools and hospitals. The government plans to finance the expansion by increasing tolls and issuing debt linked to canal income. This would not be public debt, officials have said.