Guatemala presents measures to rein in prices rises
Alvaro Colom, the Guatemalan president, announced measures to soften the blow of increases in fuel and food prices.
Monday, May 12, 2008
Colom said the increases had given his government little room for maneuver but he said he would seek accords with industry to keep their prices under control. Producers of vegetable oil, flour and chicken have already agreed to back the measures.
President Alvaro Colom has stirred controversy in Guatemala by invoking a 1974 law that obliges people with large landholdings to use at least 10 percent of them for the cultivation of basic grains.
The Inter-American Development Bank on Tuesday announced a $500 million line of credit for Central America in hopes of heading off food-price unrest.
President Alvaro Colom of Guatemala has abandoned plans to revive a law that obliges farmers to plant basic grains.
The authorities in Honduras have waited too long to take action against a growing crisis in food supplies, the daily La Prensa said in an editorial.
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