Weekly Report - 29 November 2007 (ISSN 1741-7422)

Congress approved the 2008 budget for US$5.59bn on 27 November. The approval of the budget is often a tortuous affair in Guatemala so it was a fillip for president-elect Alvaro Colom that it was pushed through before the deadline of 30 November. However, cuts in social spending - to a certain extent compensated for by the approved extension of the IETAAP (extraordinary tax to support the peace agreements) - and loopholes that give opportunities for corruption, raised questions over Colom's ability to fulfil his campaign pledges.

End of preview - This article contains approximately 590 words.

Subscribers: Log in now to read the full article

Not a Subscriber?

Choose from one of the following options

• Subscribe
• Sign up for a one-time, 14-day trial