The canal’s administrator says the stoppage will give authorities time to analyze how to proceed on the project to widen the canal.
Jorge Quijano told a news conference Wednesday that “what I want to make clear is that we will not yield to blackmail.”
The Spanish-led construction consortium leading the expansion says negotiations have broken down for how to finance the cost overrun.
Spanish firm Sacyr SA says 10,000 jobs are at risk. Italy’s Impreglio SpA construction firm is also in the consortium.
The consortium and the Panama Canal Authority blame each other for the overruns.
More Nation & World Headlines
Missile parts found in probe of Ukraine 777 crash Hillary Clinton to turn over email server to Justice Dept. Decriminalize sex trade, Amnesty International urges Autopsy: ‘Deadliest Catch’ captain had a heart attack Rick Perry stops paying all of his staff as fundraising dries up Fact check debunks Donald Trump’s claims in Megyn Kelly flap Ferguson on edge after shooting Grizzlies may be killed if tied to fatal Yellowstone attack
Our new comment system is not supported in IE 7. Please upgrade your browser here.