Costa Rica

New Finance Minister


President Laura Chinchilla has appointed a new Finance Minister to replace Fernando Herrero who resigned earlier this month.

The new Finance Minister is 62 year old Economist Edgard Ayales who has served previously as executive director of the Inter-American Development Bank (IDB) and deputy director of the IMF Statistics Department.

Costa Rica faces a budget deficit of more than 5% percent of GDP, one of the highest in Latin America

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