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Albino Vargas: ‘There are people calling for a coup d’état and an armed struggle’

During an appearance before the Comisión sobre Huelgas del Congreso (Legislative Commission on Strikes), the secretary-general of the of the strongest public workers unions the ANEP, Albino Vargas, affirmed that the reason the recent national strike last 89 days is the same that motivates...

Dollar Exchange Closes The Year At ¢611.75

It's been a roller coaster for the dollar exchange the last couple of months, reaching a high of ¢631.30 on November 7, then dropping back down to ¢600 and staying there the past couple of weeks. However, the exchange rate began climbing again the last...

Hacienda Ruled Out Aguinaldo On Dec. 6 For Civil Servants

Public sector employees can breathe a little easier now that the Plan Fiscal has passed into law, with the announcement by the Ministry of Finance that it is in a better position to pay the Aguinaldo (the annual bonus). Although initially this Ministry of Finance...

Reforma Fiscal (Tax Reform) Now Law!

It didn't take days to publish the Reforma Fiscal (Tax Reform) passed in second and final debate late Monday afternoon and signed by President Carlos Alvarado less than a couple of hours later, in the official government newsletter, La Gaceta. Typically, it can take up...

Kudos To President Carlos And Other Ramblings

Rico's TICO BULL - Kudos to President Carlos Alvarado. I was one of the many, or few, that never believed he could do what two presidents before him could. Not even Oscar Arias. Get passed in the legislative assembly the tax reform bill. It was...

Legislators Approve Plan Fiscal, President Signs Into Law

Legislators on Monday afternoon approved in second and final debate the Plan Fiscal - Ley de Fortalecimiento de las Finanzas Públicas - with the aim of alleviating the country's fiscal deficit. The Tax Reform bill was approved with the votes of 34 votes in favor...

OIJ Investigating Molotov Cocktail Bombing Of Ministry of Finance Building

The Organismo de Investigación Judicial (OIJ) are investigating the explosion of two Molotov cocktails against the Ministry of Finance building in downtown San Jose on Thursday and confirmed a note appeared on the site, alluding tot he approval of the plan fiscal or tax...

Constitutional Court Gives The Green Light To The Tax Reform Bill

The Constitutional Court (Sala Constitucional, also known as "Sala IV"), on Friday endorsed the process of the tax reform (plan fiscal) promoted by the government of Carlos Alvarado, in its task to put in order the country's finances and avoid an economic crisis. The tax...

Fitch Issues Costa Rica Alert

Fitch Ratings has given Costa Rica 90 days to resolve its public finances before lowering its risk rating. Through a statement, the rating agency issued a negative notice about the country's outlook - which was already negative - and which places the rating at...

Wall Street Sours on Costa Rica

(Bloomberg Business) In a part of the world known for guerrillas, drug runners and fleeing emigrees, Costa Rica has long been the exception. It was an oasis of tranquility and stability -- the Switzerland of Central America, some took to calling it. American retirees flocked...

Does the government have the money to pay the Aguinaldo for this 2018?

If you ask me today if I have it, I say no (...). There is never that liquid money in an entity like the Ministry of Finance in the circumstances in which it is. Today, the Treasury is, as we say there in Guanacaste,...

Could Costa Rica go the same way of Argentina?

Argentina is in crisis. The fiscal deficit experienced by the country, added to inflation and the devaluation of the currency versus the US dollar has the country on the edge of another possible economic debacle. What is happening in Argentina, a country with the third...

76% of businesses report losses due to the strike

As a result of the national strike - today in it's 50th day and which continues to be active,  76% of retailers report economic losses, as detailed in a stud by the Chamber of Commerce of Costa Rica (CCCR). The strike by the public sector...

7 out of 10 MEP employees still on strike

Nearly seven out of ten employees of the Ministry of Public Education (MEP) - the majority teachers - have yet to return to work Among the MEP employees on strike since September 10 are teachers, janitors, cooks, and administrative staff, among others, The MEP reports the...

Letter to the Editor: Collect the taxes that are due!

What I am going to suggest as an answer to the fiscal crisis in Costa Rica is simple. Collect the taxes that are due and payable through enforcement. In the U.S., we had the IRS with frightening power. When I lived in Russia we had what...

Strikers Protest The Supreme Court in Fight Against the Plan Fiscal

A group of striking public sector workers concentrated in the outskirts of the Corte Suprema de Justicia (Supreme Court of Justice), in downtown San Jose, Monday, to appeal to the magistrates their discontent with the Plan Fiscal (Tax Reform) approved last Friday by the...

Historic Day For Costa Rica, First Vote On Tax Reform Expected

After 39 hours of discussion and voting on the last motions on the Plan Fiscal (Tax Reform), legislators are expected to start their final discussion and 'first debate' vote this Friday afternoon. Legislators on Thursday completed processing the 368 outstanding motions and to work a...

MAG and Cen-Cinai Workers Agree To Return To Work

Union representatives of the workers of the Ministerio de Agricultura y Ganadería (MAG) and the Dirección de CEN-CINAI del Ministerio de Salud, agreed to lift the strike movement in these public institutions, reported the Minister of Labor Thursday afternoon. Steven Nuñez said the agreement was...

An act that dishonors the country. Attack on the president unleashes strong repudiation.

There is no similar event in the recent history of Costa Rica, a President attacked by a riotous crowd of people, a crowd that appeared bent on violence. That was the scene this Wednesday morning, outside the Teatro Nacional, in downtown San Jose, when President...

Tax Reform bill will be voted on in first debate on October 15

Legislators are expected to vote, in first debate, the Plan Fiscal (Tax Reform) on October 15, after Carolina Hidalgo, president of the Legislative Assembly, decided last Friday to put the accelerator to the discussion. Legislators this past Monday began work on the 368 motions and...

Pessimism reigns among businessmen

Pessimism reigns among entrepreneurs, in terms of how the Costa Rica economy could close the year. It is expected that the government will reach an agreement to have the 38 votes that would legitimize the tax reform bill, which would give businessmen clarity, otherwise, there...

“Marcha de los Gatos” In San Jose On Tap For Today, Day 17 Of The National Strike

With banners illustrated with cats, public labor unions are calling for another national "grand march" for today, Wednesday, September 26, in downtown San Jose.   The "Marcha de los Gatos" (also called "Marcha de los 4 Gatos") - "March of the Cats" - has ironic overtones...

CNP Workers On Strike Illegally. Strike continues into day 15.

The Labor Court of the First Judicial Circuit of San José ruled that the strike carried out by the workers of the Consejo Nacional de Producción (CNP) -  National Production Council -  is illegal, because the strike is a mechanism to resolve conflicts of a...

Strike Will Take On Avenida Segunda Today

Today, Saturday, the strike movement will take on the center of San José. According to the National Association of Public Employees (ANEP), the call is to meet at La Merced Park at 9:00 am and march peacefully towards the Plaza de las Garantías Sociales,...

National strike enters its 13th day and talks continue

At 7:30 pm Friday, the Deputy Minister of Labor, Juan Alfaro, announced that in the next few hours there could be an agreement revived some hope that next week will begin without a strike. Almost two hours later, at 9:15 pm, the president of the...

Barclays tells investors to exchange their Costa Rican bonds for Salvadorans

Barclays international bank told its investors on Thursday through a report that it would move its Costa Rican bond positions for ones from El Salvador. The strategy they suggest to their investors is to get out of the (Costa Rica) positions of the external debt...

Day 12: No White Smoke!

Costa Rica, caught in the biggest strike in almost two decades. On this 12th day of the national strike, the public sector unions continue their strike against Government of Carlos Alvarado's the Plan Fiscal (Tax Reform). Today, Friday is also the third consecutive day of...

Legislator: Costa Rica can go “to shit” because of gossip about the ‘plan fiscal’

On Tuesday afternoon, in a heated intervention in the Legislative Assembly, the legislator for the Partido Liberación Nacional (PLN) - National Liberation Party - Ana Karine Niño Gutierrez, said that the country can “ir a la mierda” (go to shit) if the misinformation campaign...

Costa Rica National Strike Testing New President

Thousands of Costa Ricans today enter their seventh day of protests against the proposed plan fiscal (tax reform), maintaining firm on the call from the public sector labor unions to maintain a national strike. The protests have interrupted mains roads that affected the carrying of...

Protesters beat, threatened and insulted members of the press during protests

Blows, threats, insults, and obstacles are part of the aggression suffered by news teams during the marches against the tax reform that began on Monday. Attacks were reported by staff of La Nación, CRhoy and television news Repretel and Telenoticias,  while covering street demonstrations against...

What’s the strike all about?

What's the strike all about? Beats me. As did most of the people I talked to yesterday (Tuesday) as I got in the thick of things in downtown San Jose. The majority would respond with fiscal plan, taxes, pensions, combo fiscal, the government wants to...

Unions Say General Strike Making an Impact As National Strike Heads Into Day 3

Costa Rica's labor unions said its second day of the national strike is having an effect against a proposed Plan Fiscal (Tax Reform). On Tuesday, the head of the ANEP, one of the largest public sector unions, Albino Vargas said they were satisfied with the...

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