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Economy / Guatemala

Guatemala

November 2011 | Risk Summary

President Álvaro Colom has granted an extradition request by the US for former Guatemalan president Alfonso Portillo on charges of money laundering and fraud. After a campaign promising to create greater social mobility and opportunity, opponents claim that Portillo ran one of the most corrupt administrations in recent history. The ex-president has already stood trial in Guatemala and had been cleared of charges of money laundering and theft of government finances, after being extradited to the country from Mexico on the accusation that he stole US$15mn from the military's budget.

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