The noose around Guatemalan President Otto Perez Molina tightens

Earlier today, the presidents of the Central Bank (Julio Suarez) and Social Security Institute (Juan de Dios Rodríguez) were arrested by Guatemalan authorities. Over a dozen other officials were arrested including the vice president of the Social Security Institute. The charges range from fraud, conspiracy, insider trading, illegal collection of fees, and active and passive bribery. From Mike McDonald at Bloomberg,

Former Vice President Roxana Baldetti stepped down on May 8 after authorities arrested the country’s tax chief for customs tax fraud and issued a warrant for the arrest of Baldetti’s top aide, accused of leading the scam. Energy and Mining Minister Erick Archila, who had been questioned by Congress over contracts he issued, also resigned last week, alleging blackmail by opposition lawmakers. Both former officials have declared their innocence.

Some 60,000 protesters marched in cities across Guatemala on May 16 to demand the resignation of Perez Molina, who hasn’t been accused of wrong doing. On Monday he vowed to finish out his term, saying “I am going to fulfill the constitutional mandate that the country’s laws establish.”

Otto Perez and his administration have been an unmitigated disaster for the people of Guatemala. It's growing increasingly difficult to see him finishing his four-year term. Your guess is as good as mine as to what happens next.