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Iran's Foreign Minister Hossein Amir-Abdollahian and Saudi Arabia's Foreign Minister Prince Faisal bin Farhan Al Saud hold a press conference in Riyadh, Saudi Arabia.

Reuters

As diplomatic thaw continues, Saudi Arabia and Iran exchange ambassadors

The rapprochement between Saudi Arabia and Iran continued this week when the two Middle East powers exchanged ambassadors for the first time in seven years. This comes after they reopened embassies in each other's capitals over the past few months as part of a groundbreaking detente.

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What We’re Watching: Guatemala slips into crisis, Bibi slips into Saudi Arabia,Trump slips out of Open Skies

Guatemala in crisis: In the latest unrest to hit the streets of a Latin American capital, a group of demonstrators — angry about a controversial new budget — set fire to the Guatemalan parliament building over the weekend. The budget, negotiated largely in secret while the country reels from the impact of the pandemic and back-to-back hurricanes, cuts funding for healthcare, education, and human rights organizations while boosting money for infrastructure and — get this — adds more than $50,000 for lawmakers' meal stipends. The mostly peaceful protesters, along with the Catholic Church, are demanding at a minimum that President Alejandro Giammattei veto the budget, but some on the streets are calling for him and his whole government to step down entirely. Vice President Guillermo Castillo has offered to do just that, but only if the president jumps ship with him. Can Giammattei find a solution or is this a rerun of 2015, when mass protests unseated the government of then-President Otto Perez Molina? With its economy battered by the pandemic and natural disasters, Guatemala can ill afford a prolonged crisis.

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