The country could face economic sanctions if congress fails to approve new laws in its next two sessions.
Guatemalan banking regulator, Édgard Barquín, has reiterated several times to congress the urgency of approving the Banking Secrecy Law that will enable the country to come off the list of those that do not cooperate with fiscal transparency.
An article on La Hora's website adds that, "banking secrecy is the protection granted by banks and financial institutions regarding their account-holders' information".
Actions have been announced by the Comptroller General's Office to declare the contract signed in July 2012 with the Spanish International Container Terminal Quetzal as detrimental.
An article on Lahora.gt reports that "... the Comptroller General of Accounts, Carlos Mencos, confirmed to La Hora that no later than next week, a group of lawyers from the company submitted to the Attorney General's Office, the documentation needed to declare the usufruct contract between the Spanish company Container Terminal Quetzal (TCQ) and EPQ, signed in July 2012 as harmful.
Reports have arisen that the document signed by the Presidents of both countries, is not even accessible and there is even less basic information about the project's feasibility.
To date there has been no information available on the technical studies, financial analysis and feasibility reports. Neither is the data on the geographical path of the project, rights of way to be acquired, the intended beneficiaries, the source of the total funding required and the overall impact of the mega project.
The Central American Business Council is a London-based organisation which is working to increase significantly the current levels of trade and investment between the UK and Central America.
Operates in Costa Rica, El Salvador, Guatemala, Honduras, Nicaragua, Panama, Central America and Dominican Republic
Phone: (0044) 207 583 8739
Panamá Pacífico with thousands of interested visitors to its stand in Expocomer 2010, not only offered the Key Note speech of thursday, but launched the residential phase of this great development on the banks of the Panama Canal
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