|
| Copyright © Vince Heptig |
|
Alvaro Arzú Irigoyen was elected as president on January 9, 1996. As the candidate of the National Advancement Party (PAN), he prevailed in a slim margin over Alfonso Portillo of Rios Montt's Guatemalan Republican Front (FRG).
Arzú comes from one of Guatemala's five oligarchical families which have traditionally dominated the economy. He represents the interests of Guatemalan business and recognizes that the country won't be able to progress economically as long as it remains in a bitter civil struggle. His economic policies have followed the standard neo-liberal structural adjustment prescriptions, as recommended by the International Monetary Fund. These include privitization of publically owned industries, integration into the global economy and expolitation of Guatemala's cheap labor force. |