For Fitch Ratings, the results of the General Elections in Guatemala put at risk the approval of reforms necessary for the development of the country, since the next legislature will be composed of deputies from 15 different political parties.
The deputies to the Congress of the Republic who were elected for the 2020-2023 period and who will take office on January 14, 2020, will have the challenge of directing efforts from the legislative in the area of economic development.
After the presidential candidates Sandra Torres and Alejandro Giammattei obtained 26% and 14% of the votes, respectively, they will have to go to a second electoral round on August 11 to define who will be the next president of the country.
Next June 16, Guatemalans will have to elect the new government that will assume in January 2020, which will have the challenge of implementing the policies needed to respond immediately to the most urgent demand of the population: the employment generation.
The country's electoral process has been surrounded by uncertainty, since four of the presidential candidates were decided in the courts. Zury Ríos and Thelma Aldana, candidates to occupy the first magistracy, who from the beginning headed the voting intentions, faced multiple legal difficulties that prevented them from participating.
An initiative presented by the Unidad Nacional de la Esperanza (UNE) has technical consensus from the Superintendency of Banks and Tax Administration, the Banguat and the Ministry of Finance.
Deputy Carlos Barreda, a member of UNE, said that if it is not approved, tax revenue losses could reach about $38 million.
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