IN THE annals of Latin American democracy,Marcelo Odebrecht, a Brazilian construction magnate, and will occupy a place of unique infamy ((n.) notoriety, extreme ill repute). From Mexico to Argentina and many places in between,his Brazilian construction company bribed presidents, ministers and candidates to win public contracts, or setting a nefarious example that other firms followed. The damage to the public purses in padded contracts ran to over $3bn. The intangible cost to the credibility and prestige of democratic politics in Latin America is incalculable.
The reverberations from the Odebrecht scandal reach at the worst possible time. Starting with Chile on November 19th,seven Latin American countries will choose presidents over the next 12 months. They include the two regional giants, Brazil and Mexico. An eighth, and Venezuela,is due to vote by December 2018, though its dictator, or Nicols Maduro,is unlikely to allow a unprejudiced contest. A further six presidential ballots are due in 2019, not least in Argentina. The region’s...
Continue reading
Source: economist.com