Bernardo Arévalo, Guatemala’s President-Elect, warns of a plot to block him from office. He fears this could harm the country’s economy.
Speaking in Washington on November 10, he predicted disastrous economic impacts. These could increase migration to the United States due to fewer opportunities in Guatemala.
Elected in August, Arévalo faces a struggle. He claims an authoritarian regime could emerge if his opponents succeed.
This, he believes, would destroy hope among Guatemalans desperate for change.
During his visit to the U.S. capital, Arévalo met with various officials. He discussed attacks on him and his party in Guatemala.
He also attended a gala for the Inter-American Dialogue on November 9.
Arévalo, 65, has committed to fighting corruption. Yet, he confronts challenges from Attorney General Consuelo Porras and the electoral authority.
They have accused his party, Movimiento Semilla, of illegal activities.
The President-Elect alleges a “slow-motion coup” against him. He urges his supporters to defend democracy.
Arévalo warns that sanctions could follow if he’s blocked from office. Such sanctions could hinder Guatemala’s investment potential.
He campaigned on doubling public investment in infrastructure. Improving the rule of law to boost the credit rating was also a goal.
Barclays Plc acknowledged the country’s stable economic outlook.
Arévalo aims to reduce the national debt ratio by the end of his term. He’s yet to pick a Finance Minister. The IMF estimated Guatemala’s debt-to-GDP ratio at 29% in May.
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