Wednesday, December 19, 2018

U.S. To Support Investment in Central America- Sort of

U.S., supporting Mexico’s plan, will invest $5.8 billion in Central America. NYT: “The United States, joining an effort by Mexico, will commit to investing billions in Central America in hopes of ending the poverty, violence and drug-trafficking that are driving thousands of people in the region to undertake the difficult trek to the United States, the State Department announced on Tuesday. Mexico’s new president, Andrés Manuel López Obrador, introduced what he called a ‘Marshall Plan’ last week to address the root causes of Central American migration: a $30 billion initiative to invest in the region and welcome migrants into Mexico with visas, health care and employment. On Tuesday, the Trump administration signaled its support for the plan, saying it was committing $5.8 billion in private and public investments in Guatemala, Honduras and El Salvador. Much of that amount, however, was previously committed or contingent on the identification of ‘commercially viable projects.’ The promise comes amid tensions between the administration and Mexico over a caravan of migrants traveling from Central America, with President Trump pushing Mexico to allow those seeking asylum in the United States to remain in Mexico while they wait. The United States ‘welcomes the historic commitment by the government of Mexico to development in southern Mexico and to promote our shared goals with the countries of El Salvador, Guatemala and Honduras,’ the State Department said in a statement.”

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