Latest news with #BernardoArevalo
UPI
31-07-2025
- Business
- UPI
Guatemala pushes money laundering bill to avoid international sanctions
Guatemalan President Bernardo Arevalo, who formally submitted the money-laundering bill to Congress on Tuesday, speaks a day earlier at a press conference in Guatemala City. Photo by Alex Cruz/EPA July 31 (UPI) -- The Guatemalan government has introduced key legislation to modernize its money laundering laws and prevent the country from being added to the international financial system's "gray list" -- a designation that could raise borrowing costs and limit access to credit. President Bernardo Arévalo formally submitted the bill to Congress on Tuesday, calling it a strategic tool to strike at the "heart" of organized crime and drug trafficking. During the launch of a program aimed at integrating Guatemalan companies into Walmart's supply chain in Central America, U.S. Ambassador Tobin Bradley stated that "the new anti-money laundering law is a platform for transparency and for attracting more investment to Guatemala." The proposal updates laws from 2001 and 2005 that officials say are outdated and inadequate for confronting modern money laundering and illicit financing schemes. It expands the range of entities required to implement controls, report suspicious transactions and appoint compliance officers. The bill also includes reforms to the Penal Code, Commercial Code, Law Against Organized Crime and private security regulations. If the reform is not approved and implemented this year, Guatemala risks being placed on the "gray list" of the Financial Action Task Force, an intergovernmental organization created in 1989 by the G7. The list includes jurisdictions with strategic deficiencies in their anti-money laundering and counter-terrorist financing systems. Countries on the list are under increased monitoring and must address shortcomings within set timeframes. "Being added to this list would significantly restrict international transactions, raise the cost of external financing and, in turn, limit access to credit. It could also lead to local banks losing the ability to work with international banks, making it harder to carry out essential operations for the people of Guatemala -- such as remittances, international payments or letters of credit for exporters," Arévalo said. The initiative's legislative prospects depend on the political support the government can secure among various blocs in Congress, where it holds a minority. The executive branch said it has begun informal talks with congressional blocs and plans to make formal presentations to committees and party groups once Congress returns from recess. Guatemala has faced warnings from Financial Action Task Force Latin America since 2022 for failing to pass key reforms. The Inter-American Development Bank, the International Monetary Fund and the World Bank have warned the country that without new legislation, a poor assessment will be inevitable at the next task force plenary meeting, which is likely in October. The Arévalo administration views the reform as one of its most significant efforts to modernize the country's institutional framework.
CTV News
09-07-2025
- Climate
- CTV News
Death toll from dozens of earthquakes in Guatemala rises to 3
Neighbours remain outside their homes in Palin, Guatemala, Wednesday, July 9, 2025, after a series of earthquakes with magnitudes ranging from 3.0 to 5.6, according to authorities. (AP Photo/Moises Castillo) GUATEMALA CITY -- Authorities on Wednesday confirmed a third death in Guatemala a day after dozens of earthquakes shook the country, leaving crumbled walls and roads blocked by landslides. More than 150 earthquakes and aftershocks with magnitudes ranging from 3.0 to 5.7 have been reported since Tuesday afternoon. President Bernardo Arevalo said on social media that the latest victim was a woman who had been buried by debris south of Guatemala's capital. He expressed his condolences to the victims' families, and was visiting a town near the epicenter. The other two victims were men killed by falling rocks while travelling in a truck on a road in the department of Escuintla, firefighters said. In the affected areas, families slept overnight in the streets outside their homes as aftershocks continued. The tremors resulted in the evacuation of buildings, landslides and minor property damage, officials said, adding they were felt as far away as El Salvador. Arevalo said Tuesday that the main epicenter of the quakes was in the department of Sacatepequez, with aftershocks in the regions of Escuintla and Guatemala department.
Al Bawaba
09-07-2025
- Al Bawaba
Series of earthquakes kill 2 in Guatemala
ALBAWABA - A series of earthquakes struck Guatemala, leaving two people dead, authorities in the country said on Wednesday. According to AFP, the people were killed after their vehicle was buried under a landslide due to the earthquakes in the Central American country. Several tremors measuring up to 5.6 magnitude hit Guatemala on Tuesday afternoon, centered near Amatitlan and Alotenango towns, southwest of the capital, seismological services detailed. "Unfortunately, human fatalities are confirmed" due to a landslide after rocks and earth buried a vehicle on a highway, according to Andres Erazo, a spokesman for the disaster coordination agency "Conred". In addition, people in El Salvador, a country neighboring Guatemala, said they felt the quake. Furthermore, President Bernardo Arevalo said the quakes had also trapped a family of five, but they were saved by Guatemala rescue teams; meanwhile, two others are being treated for injuries.
Time of India
09-07-2025
- Climate
- Time of India
Two killed in Guatemala earthquakes
Two killed in Guatemala earthquakes (Image: AP) Guatemala City: Two people were killed when their vehicle was buried under a landslide after a series of earthquakes shook much of the Central American country on Tuesday, Guatemalan authorities said. The swarm of tremors up to 5.6 magnitude rattled the country on Tuesday afternoon, centred near the towns of Amatitlan and Alotenango southwest of the capital, seismological services reported. "Unfortunately, human fatalities are confirmed" due to a landslide after rocks and earth buried a vehicle on a highway, said Andres Erazo, a spokesman for disaster coordination agency Corned. The quakes were also felt in neighbouring El Salvador. The landslide occurred on a road southwest of the capital near the city of Antigua Guatemala in the central highlands. President Bernardo Arevalo told reporters the quakes had also trapped a family of five, who were being rescued, and two others who were being treated for injuries after being freed. The tremors forced dozens to evacuate buildings in Guatemala City where anti-earthquake alarms sounded, an AFP journalist reported. Central America often experiences tremors due to the shifting Caribbean and Cocos tectonic plates.
Al Etihad
09-07-2025
- Climate
- Al Etihad
Two killed in Guatemala earthquakes
9 July 2025 08:48 GUATEMALA CITY (AFP)Two people were killed when their vehicle was buried under a landslide after a series of earthquakes shook much of the Central American country on Tuesday, Guatemalan authorities swarm of tremors up to 5.6 magnitude rattled the country on Tuesday afternoon, centered near the towns of Amatitlan and Alotenango southwest of the capital, seismological services reported."Unfortunately, human fatalities are confirmed" due to a landslide after rocks and earth buried a vehicle on a highway, said Andres Erazo, a spokesman for the disaster coordination agency quakes were also felt in neighbouring El landslide occurred on a road southwest of the capital near the city of Antigua Guatemala in the central Bernardo Arevalo told reporters the quakes had also trapped a family of five, who were being rescued, and two others who were being treated for injuries after being tremors forced dozens to evacuate buildings in Guatemala City, where anti-earthquake alarms sounded, an AFP journalist reported. Central America often experiences tremors due to the shifting Caribbean and Cocos tectonic plates.
