New Economy Minister Appointed

May 2008 | Ratings Update

Guatemalan President Álvaro Colom has appointed Rómulo Caballeros as his new economy minister. Caballeros replaces José García Macal, who tendered his resignation back in March. Undoubtedly, Caballero's short-term priority will be to address spiralling food prices and rising inflation. The new minister has ruled out the use of price controls or subsidies as a means of providing short-term inflation relief, and has instead targeted measures such as lifting import duties and improving the longer-term competitiveness of local companies.

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