Fitch says the ruler undermines democratic control over his authority and therefore the rule of law.
Fitch Solutions Country Risk & Industry Research has issued serious warnings to the Bukele government, stressing that its abuses of power and actions aimed at subverting democratic institutions that oppose such abuses threaten to weaken the rule of law and, with it, the attraction it can have. Salvadoran market for foreign investors.
Fitch bases his report (translated from English) on a series of facts that justify the diagnosis. Thus, the company predicts that “Bukele’s repeated clashes against the Legislative Assembly, the Supreme Court of Justice (SCJ) and the press will weaken the checks and balances that establish controls over his authority.”
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He also notes that, “in addition to the military occupation of the Legislature in February, Bukele ignored orders issued by the Supreme Court of Justice and mobilized to obstruct investigations into how government contracts were awarded during the COVID-19 pandemic. 19 “.
He also adds that “throughout his tenure, Bukele has sought to subvert and silence opponents in the media.” The report then concludes: “In the long run, Bukele’s subversion of democratic institutional controls over his authority could weaken the rule of law. In turn, this would weaken the country’s business environment, limiting the attractiveness of the Salvadoran market for foreign investors. “
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Asked about Fitch’s views, Manuel Hinds stressed that he totally agrees with them and that these are widespread opinions in the international media, which is very negative for the country and for job creation opportunities for those out of low production. current.
Lawyer Francisco Bertrand Galindo also agreed, noting that legal certainty is essential for attracting and maintaining investment and employment, and that the current government is negatively affecting it not only in terms of changing the rules, but worse in regarding the elimination of rules, replacing them with arbitrary decisions of the President.
The two professionals consulted also agreed that these arbitrariness and the ongoing attack on democratic institutions destroy not only foreign but also domestic investment capacity.