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Agatha sends $250 million tab for Guatemala taxpayers

Monday, June 14, 2010

The reconstruction of storm damage caused by Agatha will amount to $250 million, said the president of Guatemala, Álvaro Colom.

New taxes will need to be imposed to help the effort, said Colom during a tour of the storm damage and of recent volcanic eruptions.

A current fiscal reform will be withdrawn and replaced by a new package in joint talks with the private sector, Colom said.

Original source (in Spanish): AFP