By analyst
By Felicia Chan
A bipartisan letter from US Congress members Paul Cook and Albio Sires says the future of American investment in Guatemala is being threatened by corruption and impunity prevalent in the country. In the letter, Cook and Sires advise the Guatemalan government and President Jimmy Morales to take immediate action to fix the problem. They outline the consequences of what could follow with these unresolved issues: job losses for Guatemalan citizens, increased migration to the US, and US businesses investing elsewhere.
US company Tahoe Resources operates the Escobal mine in Guatemala. According to a letter Nevada Rep. Mark Amodei wrote to Commerce Secretary Ross in August, it was under attack by radical environmentalists from Europe which harmed both American and Guatemalan interests. He said, “Anti-development NGOs funded from foreign sources have asserted similar challenges against other companies operating in Guatemala, discouraging foreign investment and disrupting businesses that contribute to Guatemala’s development and prosperity.”
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Source:: Infomine
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