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LATIN AMERICA ADVISOR a DAILY PUBLICATION of the DIALOGUE Wednesday, February 8, 2017

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LATIN AMERICA ADVISOR a DAILY PUBLICATION of the DIALOGUE Wednesday, February 8, 2017 LATIN AMERICA ADVISOR A DAILY PUBLICATION OF THE DIALOGUE www.thedialogue.org Wednesday, February 8, 2017 BOARD OF ADVISORS FEATURED Q&A TODAY’S NEWS Diego Arria Director, Columbus Group POLITICAL Devry Boughner Vorwerk Corporate VP, Global Corporate Affairs What Is the Long- U.S. Lawmakers Cargill Seek Sanctions Joyce Chang Global Head of Research, Term Impact of the Against Offi cials JPMorgan Chase & Co. W. Bowman Cutter in Venezuela Former Partner, Petrobras Scandal? A bipartisan group of 34 legis- E.M. Warburg Pincus lators called on U.S. President Dirk Donath Donald Trump to sanction Senior Partner, Catterton Aimara Venezuelan offi cials responsible for corruption and human rights Barry Featherman Senior Director, abuses. International Government Affairs, Page 2 Gilead Sciences Marlene Fernández Corporate Vice President for BUSINESS Government Relations, Arcos Dorados Workers at Peter Hakim Escondida Mine President Emeritus, Inter-American Dialogue Plan to Strike Donna Hrinak Brazilian Supreme Court Justice Edson Fachin (pictured) was tapped last week to handle Thursday President, Boeing Latin America cases related to the Petrobras corruption case following the death last month of Justice Teori Jon Huenemann Zavascki. // File Photo: Brazilian Government. Talks between workers and mine Vice President, U.S. & Int’l Affairs, owners over a benefi t package Philip Morris International The number of suspects in Brazil’s massive Petrobras broke down. James R. Jones corruption case is expected to double following confes- Page 3 Chairman, ManattJones Global Strategies sions from former executives of construction conglomerate Q POLITICAL Craig A. Kelly Odebrecht, the case’s lead prosecutor said Jan. 26. How Director, Americas International Gov’t Relations, Exxon Mobil well are the country’s judiciary and prosecutors handling the case? How Prosecutors John Maisto does the recent sudden death of Supreme Court Justice Teori Zavascki, Seek Arrest of Director, U.S. Education who had been overseeing the investigation, affect the case? What is Finance Group Peru’s Toledo the long-term impact of the case on Brazil’s judiciary and on corruption Nicolás Mariscal Peruvian prosecutors asked a Chairman, investigations in the country? Grupo Marhnos judge to order the arrest of former President Alejandro Toledo in Thomas F. McLarty III connection with an investigation Chairman, Peter Hakim, member of the Advisor board and president McLarty Associates into bribery of Peruvian offi cials Carlos Paz-Soldan emeritus of the Inter-American Dialogue: “Brazil’s judicia- by Brazilian constriction fi rm Partner, ry—judges, prosecutors and investigators—is the crown jewel Odebrecht. DTB Associates, LLP of Brazil’s democratic institutions. For the Brazilian public, Page 2 Beatrice Rangel A Director, the judicial system is the only honest and effective branch of govern- AMLA Consulting LLC ment. It is among the two or three most respected in Latin America. Gustavo Roosen Chairman of the Board, Although sometimes accused of being overly aggressive, the judiciary Envases Venezolanos has confronted the massive Petrobras kickback and bribery scheme in an Andrés Rozental President, Rozental & exemplary fashion. The tragic death of Supreme Court Justice Zavascki, Asociados and Senior Policy Advisor, Chatham House who was managing the investigation, has not derailed the case or even Shelly Shetty slowed it very much, thanks to decisive action of the court’s president. Head, Latin America Still, the integrity of the Brazilian government remains at risk. Getting the Sovereign Ratings, Fitch Inc. Roberto Sifon-Arevalo political and business leaders responsible for the Petrobras scheme out Managing Director, Americas of power and into prison will be a landmark achievement. Whether it will Sovereign & Public Finance Ratings, Standard & Poor’s be a signifi cant deterrent to future corruption is uncertain. Recall the Men- salão case, which led to the imprisonment of a slew of top party leaders Toledo // File Photo: TV Perú. Continued on page 3 COPYRIGHT © 2017, INTER-AMERICAN DIALOGUE PAGE 1 LATIN AMERICA ADVISOR Wednesday, February 8, 2017 POLITICAL NEWS between Santos’ campaign and Odebrecht NEWS BRIEFS were unfounded. Last month, Santos denied re- Peruvian Prosecutors ceiving any money from Odebrecht. “So far no U.S. Lawmakers Urge offi cial from my government has been accused Trump to Sanction Seek Toledo’s Arrest of taking bribes from Odebrecht, but if that should occur I want the entire weight of the law Venezuelan Offi cials Prosecutors in Peru on Tuesday asked a to fall on them,” he said. Santos’ transparency A bipartisan group of 34 U.S. lawmakers sent a judge to order the arrest of former President secretary, Camilo Encisco, said Tuesday that letter to President Donald Trump urging him to Alejandro Toledo on suspicions that he was the president welcomed any investigation to immediately sanction all Venezuelan offi cials involved in a bribery scandal linked to Brazilian clear up doubts about the situation. responsible for corruption and human rights construction conglomerate Odebrecht, Reuters abuses, the Associated Press reported today. reported. On Saturday, authorities searched To- Colombia Formally The letter also called for a probe into alleged ledo’s home in Lima after they discovered $11 drug traffi cking and support for Middle East million in the bank account of one of Toledo’s Launches Peace Talks terror groups by the country’s newly appointed associates. Prosecutors believe the money vice president, Tareck El Aissami. Neither With ELN Rebels Trump nor his secretary of state, Rex Tillerson, have indicated whether their policy toward Odebrecht has The Colombian government and the country’s Venezuela will diverge from former President acknowledged paying Marxist National Liberation Army, or ELN, Barack Obama’s call for dialogue between $20 million in bribes to rebels offi cially began peace talks on Tuesday President Nicolás Maduro and the country’s in a bid to end their fi ve-decade confl ict, which opposition party. Peruvian offi cials. along with the government’s confl ict with other Marxist rebel groups, including the FARC, have was part of the $20 million that Odebrecht has led to the deaths of hundreds of thousands of Moïse Takes Offi ce Colombians, the displacement of millions and a admitted to using to bribe Peruvian offi cials as Haiti’s President during Toledo’s term in offi ce, which lasted damaged economy, Reuters reported. The ELN from 2001 to 2006. It was unclear on Tuesday is the country’s second-largest rebel group, Jovenel Moïse was sworn in as president of where Toledo was, but on Friday, he denied and it hopes to reach an agreement with the Haiti on Tuesday, bringing an extended two- wrongdoing in a phone interview from Paris government that is similar to the one reached year election cycle to a close, the Voice of with local daily newspaper El Comercio. In their last year with the Revolutionary Armed Forces America reported. Moïse had been hand-picked request, the prosecutors asked Judge Richard of Colombia, or FARC. The deal allowed FARC by former President Michel Martelly to succeed Concepción to order Toledo jailed for as long rebels to form a political party in exchange for him as his Bald Heads Party candidate. The as 18 months while they prepare charges laying down their arms, among other conces- president won with nearly 56 percent of the against him, the country’s attorney general’s sions on both sides. The negotiations, which votes cast in the Nov. 20 election. Moïse con- offi ce said in a tweet. Odebrecht acknowledged are being held in Ecuador, stalled in November, tinues to face accusations of money launder- in December in a settlement with U.S. prosecu- pending the release of a politician the ELN held ing. Last month, he spent four hours answering tors that it paid hundreds of millions of dollars hostage for nearly 10 months. The ELN is con- an investigative judge’s questions regarding the in bribes in order to secure contracts in several sidered a terrorist group by the United States allegations. He has denied all wrongdoing. Latin American countries. Also on Tuesday, and the European Union, and has extorted, prosecutors in Colombia said President Juan bombed oil and electricity infrastructure and Manuel Santos’ campaign may have received a kidnapped hundreds of people over the course Itaú Unibanco Expects to contribution of nearly $1 million that originally of 52 years, in order to raise funds for the war came from Odebrecht, the Associated Press and put pressure on the government to meet Cut Provisions This Year reported. Santos has denied receiving dona- the group’s demands. “Fortunately, today in tions from the company, and it was unclear Colombia we are trying to develop a political Itaú Unibanco Holding, Brazil’s largest bank what evidence prosecutors had to support the solution to the confl ict,” said ELN negotiator by market value, is expecting to cut its loan- claim. In a statement, Chief Prosecutor Néstor Pablo Beltrán at the launch of the talks. “Peace loss provisions by at least a quarter this year, Martínez, a former top aid of Santos’, said he is for all Colombians; it’s peace for the region Reuters reported Tuesday. The bank projected was alerting authorities so that they could and a ray of hope for humanity. New genera- loan portfolio growth of as much as 4 percent launch an investigation. Santos’ campaign tions, the victims of the confl ict and the whole this year, despite declining interest income. manager said Tuesday that any claims of links world are waiting for us to be wise and big The bank reported recurring net income of 5.82 billion reais ($1.86 billion), beating estimates. COPYRIGHT © 2017, INTER-AMERICAN DIALOGUE PAGE 2 LATIN AMERICA ADVISOR Wednesday, February 8, 2017 FEATURED Q&A / Continued from page 1 enough to overcome this futile war,” said the government’s chief negotiator, Juan Camilo and public offi cials for graft and widespread and eventually erode those investigations.
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