DIRS.INFO The most relevant business & tech news

REUTERS/Susana Vera Acquire Licensing RightsMARRAKECH, Morocco, Oct 13 (Reuters) - The International Monetary Fund's engagement with El Salvador has been "very productive" following a recent visit from a negotiating team, but an agreement is "not there yet" for a new financing program, an IMF official said on Friday. "The engagement with El Salvador has been very productive," Rodrigo Valdes, director of the IMF's Western Hemisphere Department, told Reuters. "We just had a mission there, a negotiating mission, but we knew that it would be a first step," he said. The IMF said in late September that it was working with El Salvador on "technical issues" and on minimizing the risks from the country's adoption of bitcoin as legal tender. "In other countries fragmentation, low popularity, are constraints for policy actions and here they have a very valuable opportunity," the IMF official said.

Persons: Western Hemisphere Department Rodrigo Valdes, Susana Vera, El Salvador, Rodrigo Valdes, Valdes, we're, Nayib Bukele, El, Bukele, Jorgelina, Rodrigo Campos, Nelson Renteria, Paul Simao Organizations: International Monetary Fund, Western Hemisphere Department, Reuters, IMF, World Bank, REUTERS, Rights, Monetary, El, Salvadoran, Thomson Locations: Marrakech, Morocco, Rights MARRAKECH, El Salvador, Salvadoran, Rosario, New York, San Salvador

☆ El Salvador's President Urges Palestinians to Oust Hamas
▼ + stars: | 2023-10-09 | by ( ) www.wsj.com time to read: 1 min

For more than a year, El Salvador President Nayib Bukele’s campaign to lock up tens of thousands of gang members has helped bring rare security to his Central American nation, once a world homicide capital. Now, he recommends that the Palestinian people, from which his family hails, also take a no-nonsense approach to Hamas. “As a Salvadoran with Palestinian ancestry, I’m sure the best thing that could happen to the Palestinian people is for Hamas to completely disappear,” Bukele said in a post on X, formerly Twitter. “Those savage beasts do not represent the Palestinians.” While Bukele’s anti-gang crusade has led to human rights abuse allegations, securing the streets has helped his popularity soar. “Palestinians should do the same: get rid of those animals and let the good people thrive,” he said.

Persons: Nayib Bukele’s, ” Bukele, ” Organizations: El Salvador, Central, Hamas Locations: Central American

☆ El Salvador kicks off election campaigns as incumbent's bid faces criticism over constitutionality
▼ + stars: | 2023-10-03 | by ( ) www.reuters.com time to read: +1 min

El Salvador's President Nayib Bukele addresses the 78th Session of the U.N. General Assembly in New York City, U.S., September 19, 2023. REUTERS/Eduardo Munoz/File Photo Acquire Licensing RightsSAN SALVADOR, Oct 3 (Reuters) - El Salvador's political parties launched their campaigns for the upcoming presidential elections on Tuesday, amid vocal criticism from the opposition that President Nayib Bukele will seek re-election despite it being prohibited by the constitution. More than 6 million Salvadorans are set to hit the polls on Feb. 4 to elect a president and vice president, who govern for five-year terms. Bukele is heavily favored to win re-election in the Central American nation, whose constitution forbids consecutive terms. Reporting by Nelson Renteria; Writing by Kylie Madry; Editing by Josie KaoOur Standards: The Thomson Reuters Trust Principles.

Persons: Nayib Bukele, Eduardo Munoz, Francisco Gavidia, Felix Ulloa, Nelson Renteria, Kylie Madry, Josie Kao Organizations: El, General Assembly, REUTERS, SALVADOR, Central, Francisco Gavidia University's Citizen Studies Center, Reuters, Salvadoran, Thomson Locations: New York City, U.S, Central American

Policemen prepare for an anti-gang patrol following a year-long state of emergency against gangs, in Soyapango, El Salvador March 24, 2023. It shows police believe 42,826 people, or 36% of those they say are tied to gangs, remain free. Of those, more than 20,000 are considered to be active gang members. Security forces have since arrested more than 72,000 suspected gang members and associates, giving the country the highest incarceration rate in the world. Authorities put alleged gang members into three categories: active members, aspiring members and collaborators, defined as people who assist the gang but are not members.

Persons: Jose Cabezas, Noah Bullock, they've, Nayib Bukele, Marvin Reyes, Reyes, Bullock, Sarah Kinosian, Nelson Renteria, Stephen Eisenhammer, Tom Hogue Organizations: REUTERS, SALVADOR, National Civil Police, Reuters, Gangs, Security, Police Workers Movement, Thomson Locations: Soyapango, El Salvador, El, Mexico City, San Salvador

Bukele said that if El Salvador had listened to external critics — including some at the United Nations — the tiny Central American country would again be the murder capital of the world. They are irrefutable.”More than 72,000 people have been arrested under a state of emergency Bukele requested in March 2022 after a surge in gang violence. Political Cartoons View All 1169 ImagesIn March, the U.N. human rights office expressed concern over the year-long crackdown, noting widespread human rights violations, thousands of unsubstantiated arrests and dozens of in-custody deaths. In 2015, El Salvador was considered one of the world’s most violent as it recorded 6,656 homicides, or about 106 per 100,000 people. Bukele mentioned the Central American and Caribbean Games that El Salvador hosted in June and the upcoming Miss Universe competition that will come to El Salvador in November, as well as international surfing competitions that Bukele has promoted.

Persons: — El, Nayib Bukele, Bukele, El Salvador, ” Bukele, Salvadorans, El, “, ” Organizations: UNITED NATIONS, General, United Nations, El, Legislative, National Civil Police, Central American, Caribbean Games, Miss Locations: — El Salvador, American, El Salvador

☆ Peru declares state of emergency in parts of capital after crime spike
▼ + stars: | 2023-09-18 | by ( ) www.reuters.com time to read: +1 min

Peru's President Dina Boluarte speaks as she meets with foreign press, in Lima, Peru January 24, 2023. REUTERS/Angela Ponce/File Photo Acquire Licensing RightsLIMA, Sept 18 (Reuters) - Peruvian President Dina Boluarte said on Monday her government has declared a state of emergency in three districts hit by a spike in crime, a measure that allows the military to help enforce security. In recent days, police reported attacks in San Juan including the throwing of a war grenade into a nightclub, which with another nearby grenade attack left at least 15 injured. Crime reports to police in Lima rose to nearly 160,200 last year, compared to 120,350 in 2021, according to the country's ombudsman office. Reporting by Marco Aquino; Writing by Carolina Pulice; Editing by Bill BerkrotOur Standards: The Thomson Reuters Trust Principles.

Persons: Dina Boluarte, Angela Ponce, San Juan de Lurigancho, San Martin de Porras, Boluarte, Alberto Otarola, Nayib Bukele, Marco Aquino, Carolina Pulice, Bill Berkrot Organizations: REUTERS, Rights, Thomson Locations: Lima , Peru, Peruvian, San Juan, San, Lima, Talara, El Salvador

☆ Salvadorans protest against leader on Independence Day
▼ + stars: | 2023-09-16 | by ( Reuters Editorial | ) www.reuters.com time to read: 1 min

PoliticsSalvadorans protest against leader on Independence DayPostedThousands of Salvadorans marched on the country's Independence Day on Friday (September 15) to air their grievances against President Nayib Bukele, accusing him of violating the constitution by seeking re-election.

Persons: Salvadorans, Nayib Bukele

El Salvador's President Nayib Bukele speaks during a ceremony to lay the first stone of a new public hospital, in San Salvador, El Salvador June 15, 2023. El Salvador's debt repurchases last year and a still-light payments calendar were behind a rally that shrank the premium to hold Salvadoran government debt (.JPMEGDELSR) from above 3,200 basis points in July last year to about 1,000 a year later. Katrina Butt, a senior economist at AllianceBernstein, said that even as the size of the investment is yet to be made public, "Google Cloud's announcement could significantly improve macro fundamentals in El Salvador over time". "Though outperformance of El Salvador has been impressive we think the carry is still attractive given the low default risk." BNP's Marshik said the next leg of the rally could come from good news on El Salvador's relationship with the International Monetary Fund - where the United States is the largest shareholder.

Persons: Nayib Bukele, Jose Cabezas, Nathalie Marshik, Katrina Butt, Shamaila Khan, BNP's Marshik, Siobhan Morden, Rodrigo Campos, Nelson Renteria, Angus MacSwn Organizations: El, San Salvador , El, REUTERS, SALVADOR, Reuters, BNP Paribas, Google, United States, U.S . Embassy, Peace Corps, Central American, U.S, Asia Pacific, UBS Asset Management, International Monetary, IMF, Santander US Capital Markets, Thomson Locations: San Salvador ,, San Salvador , El Salvador, El Salvador, America, Peace, El Salvador's, Asia, United States

☆ Ecuador youth choosing gangs as route out of poverty, UN expert says
▼ + stars: | 2023-09-08 | by ( Alexandra Valencia | ) www.reuters.com time to read: +2 min

Lawlessness has soared across Ecuador since the coronavirus pandemic, something outgoing President Guillermo Lasso blames on disputes related to drug trafficking and common crime. Some 27% of Ecuadoreans live in poverty, while 10.8% live in extreme poverty on a national level, according to the government's statistics office. Olivier De Schutter, the United Nations special rapporteur on extreme poverty and human rights, said impoverished youth were easy picking for gangs looking to recruit new members. Lasso, who brought forward elections to avoid impeachment, has repeatedly declared states of emergency in answer to outbreaks of violence. "We need a social Bukele, one that takes seriously the links between poverty and the rise in violence," he added.

Persons: Guillermo Lasso, Santiago Arcos, Ecuadoreans, Olivier De Schutter, De Schutter, Lasso, Nayib Bukele, Luisa Gonzalez, Rafael Correa, Daniel Noboa, Alexandra Valencia, Oliver Griffin, Bill Berkrot Organizations: REUTERS, Rights, UN, United Nations, Central American, Thomson Locations: Guayaquil, Ecuador, Santiago, Rights QUITO, U.S, El Salvador

☆ Ecuador Youth Choosing Gangs as Route Out of Poverty, UN Expert Says
▼ + stars: | 2023-09-08 | by ( Sept. | At P.M. | ) www.usnews.com time to read: +2 min

Persons: Alexandra Valencia, Ecuadoreans, Guillermo Lasso, Olivier De Schutter, De Schutter, Lasso, Nayib Bukele, Luisa Gonzalez, Rafael Correa, Daniel Noboa, Oliver Griffin, Bill Berkrot Organizations: Alexandra Valencia QUITO, UN, United Nations, Central American Locations: Ecuador, U.S, El Salvador

"Mr. Tarrio was the ultimate leader, the ultimate person who organized, who was motivated by revolutionary zeal,” U.S. District Judge Timothy Kelly said prior to announcing the sentence. “That conspiracy ended up with about 200 men amped up for battle encircling the Capitol.”Tarrio’s is the latest in a series of sentencings for former Proud Boys members convicted of seditious conspiracy. Notably, Tarrio was not among the hundreds of other Proud Boys members who breached the Capitol. Tarrio was released the next day but ordered to leave the city, so he watched and gave commands from a hotel in Baltimore. “There’s no comparing anybody that was there – including myself – with George Washington or any of the Founding Fathers,” Tarrio said.

Persons: Enrique Tarrio, Donald Trump, Tarrio, Timothy Kelly, Tarrio’s, Joseph Biggs, Zach Rehl, Dominic Pezzola, Ethan Nordean, Nayib Hassan, Stewart Rhodes, Rhodes, –, ” Kelly, “, throngs, ”, George Washington, ” Tarrio Organizations: Capitol, Proud Boys, New, Boys, Trump, U.S . Locations: U.S, Philadelphia, Seattle, Washington, Baltimore, United States

☆ Factbox: Developing countries in the grip of debt problems
▼ + stars: | 2023-09-01 | by ( ) www.reuters.com time to read: +8 min

In June, it clinched a $6.3 billion debt rework deal with the "Paris Club" creditor nations and its other big bilateral lender China. Another part of the domestic debt plan has faced delays, though, with a key deadline on a Treasury bond exchange delayed three times and now set for Sept. 11. Failure to complete the domestic debt overhaul by then could result in delays both in terms of IMF disbursements and talks with creditors. The government recently agreed to tackle roughly $4 billion of its domestic debt via a pension fund debt swap operation and a dollar-denominated bonds exchange. Cairo has a $3 billion IMF programme and has devalued the pound by roughly 50% since February 2022.

Persons: Adnan Abidi, Nandalal Weerasinghe, Kais Saied, Nayib Bukele, William Ruto's, Donald Trump, Libby George, Marc Jones, Mark Potter Organizations: REUTERS, China, SRI, SRI LANKA Sri, Sri Lanka Development, Sri, Monetary Fund, IMF, UAE, Observers, European Union, SALVADOR, World Bank, African Development Bank, Presidential, Republican, Thomson Locations: New Delhi, India, Delhi, ZAMBIA Zambia, SRI LANKA, SRI LANKA Sri Lanka, China, GHANA Ghana, Zambia, Ghana, PAKISTAN Pakistan, Saudi Arabia, TUNISIA, North, Tunisia, EGYPT Egypt, Cairo, Salvador, KENYA, Kenya, UKRAINE Ukraine, Ukraine, Russia, LEBANON Lebanon

While Guatemala’s president, the broadly unpopular leader Alejandro Giammattei, is prohibited by law from seeking re-election, concerns over a slide toward authoritarianism have grown more acute as he has expanded his sway over the country’s institutions. Who is Bernardo Arévalo? Bernardo Arévalo, 64, an intellectual, is the son of a Juan José Arévalo, a former president who is still exalted for creating Guatemala’s social security system and protecting free speech. After the former leader was forced into exile in the 1950s, Bernardo Arévalo was born in Uruguay and grew up in Venezuela, Chile and Mexico before returning to Guatemala as a teenager. Mr. Arévalo is proposing to hire thousands of new police officers and upgrade security at prisons.

Persons: Alejandro Giammattei, Bernardo Arévalo, Juan José Arévalo, Arévalo, Nayib Bukele Locations: Uruguay, Venezuela, Chile, Mexico, Guatemala, Nicaragua, El Salvador

☆ Ecuador election: assassinations cast a grim shadow as country selects a new president
▼ + stars: | 2023-08-20 | by ( Tara John | ) edition.cnn.com time to read: +8 min

Nearly 100,000 troops will be dispatched to ensure public safety and order across Ecuador on election day, Ecuador’s government says. Friends, family members and supporters of Ecuadorean presidential candidate Fernando Villavicencio attend a tribute at Quito Exhibition Center. Henry Romero/ReutersEverything to play forAnything could happen in Sunday’s presidential vote, say analysts, who point to the killing of Villavicencio as potentially changing voters’ preferences. Journalist and presidential candidate Christian Zurita gestures next to his running mate, vice presidential candidate Andrea Gonzalez (R), in Quito on August 13, 2023. Ecuador presidential candidate Yaku Perez looks on as he arrives to participate in a presidential debate, in Quito, Ecuador August 13, 2023.

Persons: CNN —, Fernando Villavicencio, Otto Sonnenholzner, Guillermo Lasso, Henry Romero, ”, Laura Lizarazo, “, Glaeldys González, …, Pedro Briones, Luisa González, Rafael Correa, Lizarazo, Rodrigo Buendia, Correa, González, Villavicencio, Christian Zurita, Andrea Gonzalez, Martin Bernetti, Moreno, Erika Paredes, Marcos Pin, ” Lizarazo, Yaku, Yaku Perez, Karen Toro, El, Nayib Bukele –, Bukele, Jan, Vicente Gaibor del Pino Organizations: CNN, Quito Exhibition Center, Reuters, ”, Crisis, Movimiento, Getty, CNN En, Construye’s, Alianza Actuemos Locations: Ecuador, Colombia, Peru, United States, Guayaquil, Esmeraldas province, Quito, AFP, Belgium, Samborondon

☆ Factbox: Top five candidates vying for presidency of Ecuador
▼ + stars: | 2023-08-17 | by ( Alexandra Valencia | ) www.reuters.com time to read: +4 min

She was leading voting intention with about 30% in recent polls, though no polls have been published since Villavicencio's killing. The 54-year-old widower has promised to fight crime with better social programs and data-driven security policies. OTTO SONNENHOLZNERSonnenholzner, a 40-year-old businessman and economist, has promoted himself as a young policymaker seeking to bring "peace, money and progress" to Ecuador. JAN TOPICTopic, 40, a private security and telecommunications businessman, has promised security would be his first and most important focus if elected. Already-printed ballots will show Villavicencio's name and photo, but the electoral authority has said votes will be counted for his replacement.

Persons: Yaku Perez, Henry Romero, Guillermo Lasso, Fernando Villavicencio, LUISA GONZALEZ Lawyer Gonzalez, Rafael Correa, Gonzalez, Correa, YAKU PEREZ, Perez, Carlos, Yaku, OTTO SONNENHOLZNER Sonnenholzner, Lenin Moreno, Moreno, Sonnenholzner, El, Nayib Bukele, CHRISTIAN ZURITA Zurita, Zurita, Fernando, Alexandra Valencia, Oliver Griffin, Julia Symmes Cobb, Aurora Ellis Organizations: REUTERS, Rights, French Foreign Legion, Central, Reuters, Thomson Locations: Quito, Ecuador, Rights QUITO, Here's, Belgium, Choco, Ukraine, Central American

☆ Ecuador election: political violence and insecurity loom large as Ecuadorians get ready to vote
▼ + stars: | 2023-08-15 | by ( Rafael Romo | ) edition.cnn.com time to read: +7 min

It has also brought international attention to the powerful criminal organizations driving the violence that has plagued Ecuador. “By the very fact that we’re not controlling our borders, we’re getting an influx of money that is literally corrupting the country,” Topic added. Topic told CNN that while he admires Bukele, he would be more careful when it comes to respecting human rights. Andrea González Náder – who was Villavicencio’s running mate – told CNN that the fight against criminal gangs and corruption was Villavicencio’s main objective when he was alive. Those aims have not changed, she told CNN from a secret location in Ecuador, which police asked CNN not to reveal for her protection.

Persons: Ecuador CNN — Gissella Cecibel Molina doesn’t, Fernando Villavicencio, Fernando, ” Molina, ‘ Fernando Villavicencio, ’, ”, Molina, “, Villavicencio, Juan Zapata, Fernando Villavicencio's assasination, Karen Toro, Pedro Briones, Agustin Intriago, Walker Vera, Pity Guzman, Rodrigo Buendia, Bukele, doesn’t, Andrea González Náder –, –, Martin Bernetti, Luisa González, Rafael Correa, “ I’ve, Gustavo Petro Organizations: Ecuador CNN, National Assembly, CNN, “, Reuters, Manta, Ecuadorian National Police, United Nations Office, Drug, Getty, French Foreign Legion, Electoral Council, Citizen Revolution Movement, European, Colombian, Zetas Locations: Quito, Ecuador, Ecuador’s, “, Esmeraldas province, Muisne, South America, United States, Europe, Colombia, Mexico, Balkans, AFP, Ecuadorian, European Union

☆ Guatemala elections: Troubled vote looms
▼ + stars: | 2023-08-12 | by ( Tara John | ) edition.cnn.com time to read: +6 min

Torres won 16% of the first-round vote in June with Arévalo coming in with 11.8% of the votes cast. “Guatemalans wanted an option on the ballot where they can vote to reject the current political system. Moises Castillo/APThis is the third presidential cycle Torres has competed in, losing in 2019 to current President Alejandro Giammattei. Guatemala currently recognizes Taiwan, and Arévalo has said he would like Guatemala to have relations with both Taipei and Beijing. Congress is set to be largely controlled by establishment parties following this year’s elections, including the outgoing president’s Vamos party and Torres’ UNE.

Persons: CNN —, Sandra Torres, Bernardo Arévalo –, Torres, Arévalo, “ Guatemalans, ” Will Freeman, backsliding, Arevalo, Cristina Chiquin, Reuters Arévalo, Rafael Curruchiche, ” Curruchiche, “, ” Freeman, Bukele, Alvaro Colom, Moises Castillo, Alejandro Giammattei, Juan José Arévalo, Freeman, Thelma Aldana, Aldana, Luis Von Ahn, Torres ’ Organizations: CNN, Council, Foreign Relations, United, Public Ministry, Reuters, Movimiento Semilla, US State Department, US, European, Unidad Nacional de la Esperanza, Getty, Duolingo, Torres ’ UNE Locations: backsliding, Guatemala, America, United Nations, Guatemala City, Spain, European Union, United Kingdom, Canada, El Salvador, Taiwan, Taipei, Beijing

☆ Fernando Villavicencio assasination: How corruption and gang warfare transformed Ecuador
▼ + stars: | 2023-08-11 | by ( Tara John | ) edition.cnn.com time to read: +6 min

But the high-profile assassination on Wednesday of presidential candidate Fernando Villavicencio could be a turning point for the country that has so far struggled to control the bloodshed. Ecuadorean presidential candidate Fernando Villavicencio ran on an anti-corruption platform prior to his death. Floundering authoritiesSecurity and state forces have been badly unprepared for the rise of criminal groups in the country. A a car transports the body of Ecuadorean presidential candidate Fernando Villavicencio on August 10. Last year, the US withdrew visas from high-ranking officers of Ecuadorian state security forces, alleged to be linked to drug trafficking, as well as several judges and lawyers.

Persons: CNN —, Fernando Villavicencio, ” Juan Pappier, Watch’s, “, Karen Toro, Laura Lizarazo, ”, ” Lizarazo, Ecuador’s, Guillermo Lasso, Lizarazo, Eric Farnsworth, –, Villavicencio –, El, Nayib Bukele, Luisa González, Rafael Correa, Vicente Gaibor del Pino Organizations: CNN, Customs, Border Patrol, Ecuadorian, Reuters, Lobos, of, Americas Society, Security Locations: Ecuador, ”, Peru, Colombia, Europe, Washington, Americas

☆ El Salvador backs mass trials for thousands held in crime crackdown
▼ + stars: | 2023-07-26 | by ( Nelson Renteria | ) www.reuters.com time to read: +3 min

[1/2] El Salvador's President Nayib Bukele speaks during a ceremony to lay the first stone of a new public hospital, in San Salvador, El Salvador June 15, 2023. El Salvador has been under a state of emergency for 16 months, sparking the arrest of over 71,900 alleged gang members. Opposition politicians and rights groups say group trials risk depriving detainees of their right to due process and their individual presumption of innocence. On July 14 at the Inter-American Commission on Human Rights, rights organizations denounced the deaths of 174 people in state custody and over 6,400 documented human rights abuses during the state of emergency. Reporting by Nelson Renteria in San Salvador; writing by Sarah Kinosian; Editing by Matthew LewisOur Standards: The Thomson Reuters Trust Principles.

Persons: Nayib Bukele, Jose Cabezas, Nayib Bukele's, Gustavo Villatoro, Manuel Melendez, Ingrid Escobar, general's, Nelson Renteria, Sarah Kinosian, Matthew Lewis Organizations: El, San Salvador , El, REUTERS, SALVADOR, Central American, Justice, Salvadoran, Harvard University, Legal, Inter, American, Human Rights, Lawmakers, Thomson Locations: San Salvador ,, San Salvador , El Salvador, El Salvador, San Salvador

Rising tensions between Washington and President Nayib Bukele's government, dwindling prospects of a financing deal with the International Monetary Fund (IMF) and the fallout from bitcoin becoming legal tender against a wider difficult macro backdrop had seen El Salvador bonds drop to a quarter of face value last July. "In the summer of 2022, El Salvador bond prices were divorced from fundamentals," said Aaron Stern, managing partner and chief investment officer at Converium Capital in Toronto, who has been holding the country's bonds since last year. "The market was concerned about the administration's willingness to pay," he said, but even now El Salvador offers attractive value when compared to a number of better priced emerging market sovereigns. These were the best performing among sovereign bonds in the first half of the year, with total returns near 60%. "In a year where carry is the main driver of total returns, investors are going to be reticent to take profits too early," said BNP Paribas' Nathalie Marshik, a managing director for Latin America fixed income.

Persons: Nayib Bukele's, buybacks, Aaron Stern, Alejandro Werner, Bukele, there's, Shamaila Khan, Nathalie Marshik, Marshik, Rodrigo Campos, Karin Strohecker, William Maclean Organizations: YORK, Central, International Monetary Fund, El, IMF, Converium Capital, Reuters, Emerging Markets, Asia Pacific, UBS Asset Management, Reuters Graphics JPMorgan, Thomson Locations: El Salvador, Central American, Washington, Toronto, it's, America

☆ El Salvador arrests more than 100 Colombians in financial scheme
▼ + stars: | 2023-07-18 | by ( Nelson Renteria | ) www.reuters.com time to read: +2 min

SAN SALVADOR, July 17 (Reuters) - Salvadoran police arrested more than a hundred Colombians for their alleged involvement in operating a microfinancing scheme that laundered money from drug running and gang activities, security officials said on Monday. The criminal group reportedly made loans, using funds obtained illegally, to individuals and small businesses with 20% interest, according to the officials. Some $20 million in money linked to drug trafficking gangs is estimated to have been sent to Colombia since 2021 under the scheme, added Delgado. Colombia's foreign ministry said it was in talks with its embassy and consulate in El Salvador over the arrests, but did not offer further comment on the accusations facing the Colombian nationals. Reporting by Nelson Renteria in San Salvador; Additional reporting by Oliver Griffin in Bogota Writing by Kylie Madry Editing by David Alire Garcia and Matthew LewisOur Standards: The Thomson Reuters Trust Principles.

Persons: Nayib Bukele, Rodolfo Delgado, Delgado, Bukele, Nelson Renteria, Oliver Griffin, Kylie Madry, David Alire Garcia, Matthew Lewis Organizations: SALVADOR, Salvadoran, Twitter, Colombian, Thomson Locations: Colombia, El Salvador, Guatemalan, Argentine, San Salvador, Bogota

☆ Salvadoran President Bukele's party names him as 2024 candidate
▼ + stars: | 2023-07-10 | by ( ) www.reuters.com time to read: +2 min

SAN SALVADOR, July 9 (Reuters) - Salvadoran political party Nuevas Ideas chose President Nayib Bukele on Sunday as its candidate for the presidential elections of early 2024, even though the country's constitution does not allow consecutive terms for the presidency. The president - favored in the 2024 election by nearly 70% of Salvadorans - and his Vice President Felix Ulloa still need to register as candidates with the Supreme Electoral Tribunal (TSE) to formalize their candidacy. His "war" against gangs in El Salvador has led to more than 66,000 people being imprisoned and earned Bukele unprecedented popularity. Bukele has denied the allegations but undercover negotiations with gangs have not been unusual in El Salvador. Salvadorans will vote on Feb. 4 next year to elect a president and vice president for the 2024-2029 term and legislators until 2027.

Persons: Nayib Bukele, Bukele, Felix Ulloa, Mauricio Funes, Salvadorans, Nelson Renteria, Anna, Catherine Brigida, Tom Hogue Organizations: SALVADOR, FMLN, Thomson Locations: Salvadoran, United States, El, El Salvador

☆ Guatemala will vote for new president but critics say many anti-corruption candidates were weeded out
▼ + stars: | 2023-06-24 | by ( Tara John | ) edition.cnn.com time to read: +9 min

One of the expelled candidates, the rightwing Roberto Arzú, was a vocal critic of President Alejandro Giammattei. Employees of the Supreme Electoral Tribunal (TSE) arrange ahead of the general elections in Guatemala City on June 20, 2023. Johan Ordonez/AFP/Getty ImagesIt’s not the first time that Guatemala’s electoral tribunal eliminates presidential hopefuls, but this year’s cycle is happening in rapidly shrinking civic space. Failing battle against corruptionRights groups say graft and impunity accelerated in the country after former President Jimmy Morales dissolved a United Nations-backed anti-corruption commission in 2019. The candidatesThe US and Western allies have raised concerns about the exclusion of presidential candidates in Guatemala.

Persons: CNN —, Sandra Torres, Thelma Cabrera, Carlos Pineda –, ” Will Freeman, Roberto Arzú, Alejandro Giammattei, Cabrera, Pineda, Tik Tok, ”, Johan Ordonez, we’ve, Caren, Jimmy Morales, Consuelo Porras Argueta, Antony Blinken, José Rubén Zamora, Moises Castillo, Porras, –, Kevin López, Giammattei, Freeman, Biden, “, ” Freeman, Western Hemisphere Affairs Brian Nichols, Guatemalans, Maria Consuelo Porras, Mulet, Carin, Edmont, Ríos, Torres, Rios, El, Nayib Bukele, Álvaro Colom, Colom, Efraín Ríos Montt, CICIG Organizations: CNN, Council, Foreign Relations, Twitter, “ Corruption, Constitutional, ” CNN, Getty, Americas Society, United, International Commission, Washington Office, Guatemala Human Rights, USA, Prosecutors, US, State, José Rubén Zamora –, . Press, Patrol, Western Hemisphere Affairs, Public Ministry, United Nations, Agence, France Presse, Analysts Locations: Central America’s, Guatemala, America, Guatemala City, Americas, United Nations, Guatemalan, Central America, American, Washington, United States, Haiti, Nicaragua, France

☆ El Salvador slashes size of Congress ahead of elections
▼ + stars: | 2023-06-07 | by ( Nelson Renteria | ) www.reuters.com time to read: +2 min

[1/2] El Salvador's President Nayib Bukele delivers a speech to mark his fourth year in office, in San Salvador, El Salvador June 1, 2023. REUTERS/Jessica Orellana/File PhotoSAN SALVADOR, June 7 (Reuters) - El Salvador's Congress passed an electoral reform in the early hours of Wednesday to reduce the lawmaking body's size by nearly a third, a move the ruling party says will reduce spending and critics say consolidates power ahead of elections. The reform, announced last week by President Nayib Bukele in an address marking four years in government, cuts the unicameral Congress' size from 84 lawmakers to 60. Presidential and legislative elections will be held in February, with municipal and regional Central American Parliament elections scheduled for March. In 2021, El Salvador's top court, whose members are appointed by Congress which is controlled by the president's party, ruled that Bukele could stand for re-election, a decision that drew international condemnation.

Persons: Nayib Bukele, Jessica Orellana, Bukele, Anabel Belloso, Nelson Renteria, Kylie Madry, Bill Berkrot Organizations: El, San Salvador , El, REUTERS, SALVADOR, Salvador's Congress, FMLN, Central American, Thomson Locations: San Salvador ,, San Salvador , El Salvador, Congress, El

☆ El Salvador partnership to build $1 billion bitcoin mining farm
▼ + stars: | 2023-06-05 | by ( ) www.reuters.com time to read: +2 min

SAN SALVADOR, June 5 (Reuters) - A public-private partnership in El Salvador will pump $1 billion into creating one of the world's largest bitcoin mining farms, the group called Volcano Energy announced on Monday. Volcano Energy said the funds would go toward an estimated 241 MW power generation park using solar and wind energy in the northwestern municipality of Metapan, which will eventually power the bitcoin mining farm. Bitcoin mining uses high-power computers hooked up to a global network, sucking up massive amounts of electricity in the process. The El Salvador government will have "a preferred participation equivalent to 23% of the revenues" in the project, Volcano Energy said, with private investors holding 27%. Reporting by Nelson Renteria in San Salvador and Kylie Madry in Mexico City; Editing by Aurora EllisOur Standards: The Thomson Reuters Trust Principles.

Persons: Nayib Bukele, Josue Lopez, Max Keiser, Nelson Renteria, Kylie Madry, Aurora Ellis Organizations: SALVADOR, Volcano Energy, Salvadoran, Reuters, International Monetary Fund, El, U.S ., Thomson Locations: El Salvador, Salvador's, Metapan, San Salvador, Mexico City

Search resuls for: "Nayib"

25 mentions found