Payment of Bribes, a Constant Practice in Guatemala

35% of companies surveyed said they pay some sort of bribe to do business.

Monday, May 9, 2011

The data comes from "The Survey on the Field of Investment", conducted by the World Bank.

Employers surveyed also pointed to corruption as a principal constraint to improving productivity.

An article for Elperiodico.com.gt by Lorena Alvarez notes 'Corruption is twofold: the company paying the bribe and the official who receives the money" said Juan Carlos Zapata, director of the Foundation for the Development of Guatemala (Fundesa) when warning that corruption creates a circle of unfair competition and increases the cost of doing business.

More on this topic

Costa Rica Settles Dispute with Alcatel For $10 Million

January 2010

The agreement includes the acknowledgment on behalf of Alcatel of having bribed Costa Rican public officials.

The fact that the French company acknowledged paying bribes will certainly affect the trial currently underway against several public officials, among them ex President Miguel Ángel Rodríguez.

Alcatel Pays $137 Million For Bribes in Costa Rica

February 2010

To avoid prosecution in the United States for bribes paid in Costa Rica, Taiwan and Kenya, Alcatel-Lucent agreed to pay $137.4 million.

The Department of Justice of the United States will defer prosecution of Alcatel on charges it violated the Foreign Corrupt Practices Act, and must enter a three-year probation period monitored by a French anti corruption monitor.

Honduras to Host Renewable Energy Conference

February 2011

With participation from over 200 companies and experts from the region and the UK, the Energy Conference will take place on the 17th and 18th of February.

The event, organized by the British Government, will present new technologies and products in the area of renewable energy and will promote meetings between potential investors.

Guatemala Joins Anti-Corruption Program

November 2009

The program, developed by the World Bank, intends to eliminate corruption problems in infrastructure projects funded by the state.

It is called 'Initiative for Transparency in the Construction Industry', and its main objective is to provide clear, verified information for all public infrastructure projects.

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