Archive for July 23rd, 2008
Wednesday, July 23rd, 2008
Risk-analysis firm Standard & Poor’s (S&P) has announced an improvement in Costa Rica’s risk rating, moving the country’s credit rating up from stable to positive. According to the global firm, this comes in recognition of Costa Rica’s good fiscal policy management and its overall economic policy in the past few months — which has led to reducing public debt and reaching positive fiscal results without affecting public investment and expenditures in social programs.
Standard & Poor’s indicated that the revised outlook is the result of a substantial reduction of Costa Rica’s public debt burden, which improved the country’s fiscal profile and its ability to handle its obligations. The firm pointed out that a strong growth of tax revenue, coupled with the growth of the economy, have contributed to slashing debt as a percentage of the Gross Domestic Product (GDP) — and this is expected to go even lower in 2008. S&P also said that the country’s increased exchange flexibility could reduce its vulnerability to sudden external shocks. (more…)
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Wednesday, July 23rd, 2008
Having Visited Costa Rica, I have compiled a list of the best locations to visit. This list is by no means comprehensive or complete, it is just a checklist of all the places I would visit when I go to Costa Rica.
Arenal Volcano
The Arenal Volcano area is one of Costa Rica’s top attractions. Only 3 hours away from San Jos, in the town of La Fortuna, stands a majestic 1,633m volcano, known to be one of the most active in the world. Despite its constant activity, the volcano is very safe to visit as long as you stay within the safety perimeter. In this area take advantage of the pristine natural surroundings! Go fishing, horseback riding; take a canopy tour, rafting or experience a tremendous canyon expedition. Whatever you decide, be sure to visit the relaxing hot springs in the area, the most famous being Tabacon and Baldi. (more…)
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Wednesday, July 23rd, 2008
With the signature of Costa Rican president, Oscar Arias, the insurance monopoly held by the Instituto Nacional de Seguros (INS), has ended, allowing Costa Ricans to make a choice once the competition enters the market.
President Arias, with INS president, Guillermo Constenla Umaña, yesterday signed the “Ley Reguladora del Mercado de Seguros”.
The law allows for the creation of a “superintendencia” (superintendent) of insurance and the strengthening of INS as an insurance provider, along with the independence of the Cuerpo de Bomberos (Fire Department), among other changes to the insurance industry. (more…)
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