Is Petrocaribe a solution?

Nowadays, the all too popular subject about Guatemala's negotiations with Petrocaribe can be considered a controversial issue in Guatemala. I'm sure many, including me, don't have a clear Idea of what Guatemalan government pursues with this, and what is the price that we will have to pay Venezuela in return. It's a well known fact that in the popular phrase of Latin American economists: "There are no free lunches" (Translation clarification: Nothing is really free).

Basically, the agreement between Petrocaribe (Created by Hugo Chavez, and not "Officially" related to the Bolivarian Movement, Chavez's counter strategy for FTA), means an increase in national debt.

I have to emphasize that the key problem or issue is not limited to the increase in prices for energy and subsequent goods, but also involves the question of whether Guatemalans can pay for them. We are trying to resolve a problem by trimming its branches, and not its roots. The challenge rests with Guatemala's ( and by that I mean, Guatemala's citizens') ability to be competitive, productive and educated. The average Guatemalan can resolve his income needs through better comprehension of his competitive skills, his opportunities, his potential and resolve.

I must also applaud the proactive approach that the central government is taking to resolve this social dilemma. But its implications must not be overlooked. The necessary technical & economical analysis must not be forgotten. The fact is that one of Guatemala's economic authorities, María Antonieta de Bonila, (President of Guatemalan National Bank) confirmed she was not consulted on the subject, one which is especially pertinent to her duties and experience, as it potentially impacts on our National Debt over the next 25 years.