Tag: financial panic

Worrying Delevopments in Guatemala

In the last week there’ve been deeply worrying developments in Guatemala. Rodrigo Rosenberg, a highly respected Guatemalan lawyer, was killed Sunday outside of his house by unknown gunmen. On Monday, a posthumous video recorded by Rosenberg was released where he blames the country’s president, Alvaro Colom, for his assassination. Constantino Díaz-Durán, former editor of elcato.org, tells the story in a piece appearing in the Daily Beast.

Since Monday, thousands of Guatemalans have flocked to the streets demanding Colom’s resignation, but they have been met by an equal number of government supporters who are resorting to violence and intimidation against the protesters. This is the modus operandi of the hard-left in countries such as Venezuela, Bolivia, Argentina, and Ecuador. But nobody would’ve expected a center-left government led by a mild-manner president like Colom to employ such tactics.

However, there are more worrisome signs that the government is planning to crack down on dissenters. Yesterday a man was arrested after encouraging people through Twitter to withdraw their savings from Banrural, the bank involved in the corruption charges that Rosenberg made against the Colom administration. He’s been charged with “inciting financial panic.” Hours later, another man was arrested for distributing copies of Rosenberg’s video in the streets. The government claims he was “inciting the public.”

Whatever happens in the following weeks will determine the future of Guatemala’s institutional democracy. The United States should be paying closer attention to the situation, considering Guatemala’s position as Central America’s most populous democracy.