The new representative of Costa Rica to the Organization for Economic Cooperation and Development (OECD), Ottón SolÃs, resigned from his position eight days after taking office due to backlash from Congress and business associations.
Costa Rica will be the 38th member of the OECD and the fourth Latin American nation to be part of the organization, along with Mexico, Colombia and Chile.
The Costa Rican economy will contract between 4.1% and 4.9% this year compared to 2019, depending on the severity of the health crisis, according to the OECD.
Founded in 1961, the OECD is dedicated to promoting policies for economic and social welfare. Its member countries move 60% of world trade and represent 80% of global GDP.
Can Costa Rica present itself as an advanced, or at least, soon-to-be developed economy, while also keeping one hand out for foreign aid? Some analysts say yes.
