Guatemala cancels US$3.5 million in highways contracts

Guatemala's Highways Fund, Covial, has rescinded eight contracts for a total of 25.9 quetzals (US$3.5 million) awarded to companies who failed to abide by their contracts.

Thursday, May 29, 2008

"In some cases the work wasn't up to standard, in others it was way behind schedule. In some cases, work hadn't even begun," said Byron Pivaral, the deputy director of Covial

More on this topic

Costa Rica: Companies Benefitting From State Inefficiency

October 2015

The National Highway Council will be extending for 12 months road maintenance contracts worth $151 million because of the inability to carry out new tenders.

It is the second consecutive time that the National Roads Authority (COSEVI) has requested authorization from the Comptroller General of the Republic to extend for 12 months highway maintenance contracts.

Panama: Public Registry Grows With Economy

October 2013

Construction, real estate and rentals are the main sectors generating registrations and other paperwork that have raised $40 million in revenue for the Public Registry.

This " ... is a considerable increase compared to the 4% growth which was reported in 2012 , when revenues from January to August were $33 million compared to 2011 when $ 31.8 million was raised ... " , noted an article in Panamaamerica.com.pa.

Panama: $3 Million Contract for Odebrecht

November 2009

The Brazilian construction company awarded the second stage of the cleanup works in Caldera River.

The first stage was awarded to company "Ceiba Panama", and comprised cleaning the first 7 kilometers of the waterway.

Manolo Ruiz, Mayor of Boquete, stated that "the company must clean up all garbage, trees and objects affecting the free flow of water", and that "they will erect containment walls to protect houses close to the river from unexpected flooding".

Fuel imports put IMF targets out of reach for Honduras

June 2008

Honduras will be unable to meet targets set by the International Monetary Fund as a result of a soaring bill for fuel imports, finance Secretary Rebeca Santos said.

Santos said that Fund officials were aware that Honduras would be unable to meet the targets for inflation and international reserves. Between January and April of this year, the nation's monthly fuel-imports bill more than doubled to US$456 million.

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