Costa Rica Coffee Guide

Former Central Bank President Returns to Post

March 19, 2010

Rodrigo Bolaños, who presided over the Central Bank in the mid-1990s, steps back into the same role at a time when inflation is at an all time low and the colón is experiencing wide fluctuations in its value compared to the United States dollar.

Bolaños will inherit the recession, one that economists say has already bottomed out and is slowly climbing toward recovery. And he will assume the challenge President-elect Laura Chinchilla issued on election night – for Costa Rica to become the first developed country in Latin America.

“The improved confidence of buyers and sellers in the international community will contribute to the improvement of the financial status (of the country) and the expansion of spending,” said current Central Bank President Francisco de Paula Gutiérrez, in a February speech in which he outlined his predictions for 2010 (TT, March 5). He will step down for personal reasons after seven years at the helm of the Central Bank.

Bolaños, who most recently worked as a partner at the firm Ecoanálisis and president of the Latin American Reserve Fund (FLAR), served as presidency minister (1977), finance minister (1977-1978 and 1982-1984), consultant to the International Development Bank (1991-1992, 1999, 2004-2005) and as the country’s comptroller (2001-2002), among other posts.

–Chrissie Long

You may be interested

Costa Rica Coffee Culture at a Crossroads
Coffee
4 views
Coffee
4 views

Costa Rica Coffee Culture at a Crossroads

Steve Hodel - September 27, 2020

The traditional cafe society in Costa Rica has reached a cultural crossroads. Older generations of coffee drinking traditionalists are crossing…

International rejection grows against project that threatens NGOs and journalists in Nicaragua
Costa Rica
784 views
Costa Rica
784 views

International rejection grows against project that threatens NGOs and journalists in Nicaragua

Julia RIOS / AFP - September 27, 2020

International rejection against a bill considered threatening to journalists and human rights defenders in Nicaragua increased Friday with demands that…

Slothy Sunday: Meet the sloth moms, released and thriving
Sloth Sundays
1771 views
Sloth Sundays
1771 views

Slothy Sunday: Meet the sloth moms, released and thriving

Rachael Griffiths / Toucan Rescue Ranch - September 27, 2020

This Sloth Sunday is dedicated to the released two-fingered sloth moms that have been prospering since being in Toucan Rescue Ranch’s…