• Costa Rica Coffee Guide
  • Squaremouth travel insurance button 468x106
  • Tico Travel Surfing
  • Costa Rica Real Estate

Costa Rica’s Minister of Finance resigns ahead of possible sanctions

October 23, 2019

The Minister of Finance of Costa Rica, Rocío Aguilar, who led a fight to contain the country’s explosive fiscal deficit, resigned Wednesday after the Comptroller’s Office recommended sanctioning her for improperly authorizing payments of public debt.

Aguilar said she does not agree with the Comptroller General’s decision, which cited her approval to pay off more than $300 million (182 billion colones) of the public debt without proper authorization from the Legislative Assembly.

“It seems to me that it is a wrong decision of the Comptroller (but) I have not decided to appeal it, either,” she said.

The Comptroller recommended that President Carlos Alvarado punish Aguilar for having made the emergency payment shortly after the government took office last year.

Aguilar said that the previous administration had not budgeted for that payment and that the country was exposed to a financial sanction if it did not comply.

She explained that she chose to leave office so as not to force President Alvarado into making a decision regarding the sanction.

“That decision (to sanction) will always remain in the hands of the president, and I do not want to leave it at that crossroads,” Aguilar explained.

President Alvarado praised the former minister and said “her hard work was key to stabilize and clean up public finances.”

Aguilar assumed the conduction of a fiscal reform approved at the end of last year by the Legislative Assembly to contain the fiscal deficit that had reached 6% of GDP in 2018.

The Costa Rican Union of Chambers of Private Enterprise, the main business union in the country, urged President Alvarado to “name someone who gives continuity to Mrs. Rocío’s work and guarantees the country’s good direction on the macroeconomic issue.”

“These have not been simple times for the president,” said the now ex-minister, who highlighted President Alvarado’s “courage” to face financial problems that have plagued Costa Rica for many years.

“I am proud to have served you,” said Aguilar, accompanied by other members of the cabinet.

You may be interested

Costa Rica up to 330 coronavirus cases, fourth person recovered
Costa Rica
6030 views
Costa Rica
6030 views

Costa Rica up to 330 coronavirus cases, fourth person recovered

Alejandro Zúñiga - March 30, 2020

Costa Rica has confirmed 330 cases of the novel coronavirus, the Health Ministry announced Monday afternoon. The figure marks a…

More than 100,000 layoffs as 40% of Costa Rica’s restaurants close
Costa Rica
4 views
Costa Rica
4 views

More than 100,000 layoffs as 40% of Costa Rica’s restaurants close

AFP and The Tico Times - March 30, 2020

Some 100,000 restaurant workers in Costa Rica have lost their jobs after the closure of more than 40% of the…

News briefs: Start your week with positive stories from Costa Rica
Costa Rica
888 views
Costa Rica
888 views

News briefs: Start your week with positive stories from Costa Rica

Alejandro Zúñiga - March 30, 2020

The coronavirus pandemic has impacted daily life in Costa Rica, which has declared a State of Emergency and enacted sweeping…

Do NOT follow this link or you will be banned from the site!