Central America. Travel. Investments. Real Estate. News.
index-December-2008-1.html English News Blog for  Costa Rica English News Blog December Archive 

More Poverty by Next Year

12/23/08 18:04

Costa Rican President Oscar Arias believes and foretasted poverty growth exponentially by the start of next year. On the La Nacion daily he says that it will be caused by the effects of the US recession which will mean less American tourist, investments and less demand for Costa Rican products like fruits. To counter the effects of this, he already negotiated with Inter-American Development Bank to secure a $850 million loan for public spending and capitalization for the productive sector.

[404 Check: was link to http:/ / www. plenglish. com/ article. asp?ID=%7BE52228B6 -59D7 -479F -A53D -F50C68F4E975%7D)&language=EN, anchor: News: Costa Rica Poverty to Rocket in 2009 - Prensa Latina]

Tags: poverty • inter american development bank • oscar arias • effects of recession •
0 Comments. - Permalink

Back-up If Needed

International Monetary Fund director Dominique Strauss-Kahn visited Costa Rica and said that if the country will need help with finances, a credit grant would be on the way. He said that Costa Rica's economy is still on track and doesn't need any outside support yet. Strauss-Kahn already discussed the possible credit with President Oscar Arias, Francisco de Paula Gutiérrez, Central Bank President, and Finance Minister Guillermo Zúñiga.

News: Costa Rica, Nicaragua Daily News–The Tico Times, IMF will grant credit to Costa Rica if needed

Human Trafficking

All over the world, human trafficking is one of the big problem specially on third world countries. Costa Rica has been a notorious spot when it come to this nasty business. It has been a source, transit, and destination country for children, adults, men or women for commercial sexual exploitation and slavery. It's location close to the United States makes it a perfect place for these lucrative businesses.

News: Mission Network News

Business Opportunity Frauds hidding in Costa Rica

Just this month, two U.S. Citizens was arrested in connection with the series of fraudulent business opportunities. Stephen Schultz with co-conspirator Jeffrey Pearson had purported to sell beverage and greeting card business opportunities and operated widely in U.S. and in also used some Costa Rican corporate documents. Both of them were charged with conspiracy, mail fraud, wire fraud (for using VoIP) and they will sure spend more time behind bars in the future.

News: Second U.S. Citizen Arrested in Connection With Costa Rica-Based Business Opportunity Fraud Ventures - MarketWatch

Reminder to Lawmakers

Religious leaders specially the member of the Catholic Action Archdiocesan Forum has reminded Costa Rica's lawmakers of their duty to protect the fundamental values of marriage and life when considering passing laws.

The Religious group sent a letter regarding issue of single marriage (monogamy) between a man a woman as the manner of passing on values and said that laws which to the contrary should not be passed like divorce

News: Congressmen in Costa Rica reminded of their duty to protect fundamental values

Almost Got Derailed: Failure to Launch

The transportation industry is one of the latest innovations which is continually being developed for man's convenience and comfort. From wagons, to automobiles, to aircraft and sea ships,There is no stop in making man travel faster from one point to the other in the shortest time possible. Trains are also one of these many forms of transportation but recently a train which was launch in Costa Rica had made a negative impression which will make people think again in riding a train. To what is that and more can be found here:

News: Heredia Train Practice Run Derails with Costa Rica President Aboard | Costa Rica Travel News

Costa Rica to introduce new limits on offshore bank operations

Offshore banks, which do not appear to be under the regulation of Costa Rican laws, are free to set their own interest rates, making them relatively free from the clutches of the central government.

However, a new resolution to limit the independence of this offshore banks is already underway to completion. This will will limit the operations of the offshore banks in the country.

News: New Rules Limit Costa Rican Offshore Bank Operations | Costa Rica Travel News

MAN Diesel Lands on Costa Rica

MAN Diesel, Augsburg based engine builder and a Unit of MAN AG has awarded a contract from Fideicomiso Garabito which covers the design and construction power plant at Garabito near the city of Puntarenas on Costa Rica that would run on diesel.

The project will begin on Dec. 2010 where it will supply about 200 MW power to Costa Rica's national grid which is about 10% of the nation's installed electrical capacity.

News: MAN Diesel Gets EUR190 Million Power Station Contract In Costa Rica - EasyBourse actualité

Identity Theft Scam

Roberto Solorzano quits his position as head of Department of Intelligence and Security of Costa Rica in relation to possible involvement to dozens of identity theft scam which have broke into a database system to get information about banks accounts.

Solorzano is not the main felon but his deputy intelligence chief Roberto Guillen which is suspected to have used his password to a database to create falsification of identity of others.

News: Intelligence chief quits as Costa Rica probes scam-Rest of World-World-The Times of India

Rain affects thousand of people in Costa Rica, Panama

At least ten were dead and thousands of people were affected by rains that poured down on Panama and Costa Rica since late November.

Properties destroyed during the rains in the country do not only include houses. Bridges, roads, and highways were severely damaged by the storms.

News: AFP: Ten dead, thousands hit as rains lash Panama, Costa Rica