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Consequences of war feared
here
With the new year, Costa
Ricans experience growing fears for the consequences of war
elsewhere. Tension between the United States and Iraq, plus
the North Korean threat, and the social unrest in Venezuela,
all point to higher oil prices and the increase in fuels and
almost all areas of economy. This automatically means that
consumers will have to face higher prices with the same
income. Analyst Miguel Loria from the University of Costa
Rica explained that in order to lower the impact of higher
oil prices, Costa Rican economy authorities would take
measures involving higher interest rates and a larger rate
of devaluation, which would in turn mean finance straits for
most families living in this country. He added that this
scenario would depend mainly on the duration of a war.
Central Bank chairman Francisco Gutierrez agrees. He said
that a 30-day conflict would be managed with the reserves at
hand, but that a longer duration would have unpredictable
consequences for Tico pockets. |
Growth in tourism expected
If the expectations of the Costa
Rican Board of Tourism (ICT in Spanish) are met, Costa Rica would
experience a 10 percent increase in the arrival of tourists this
year, as compared to the number of visitors in 2002. Minister of
Tourism Ruben Pacheco pointed out that one of the positive signs is
the increase in the number of regular flights, of which 21 new ones
a week have been announced by several airlines. He explained that
this means the arrival of at least an additional 100,000 new
visitors in 2003. On the other hand, Minister Pacheco pointed out
that Costa Rica has been able to survive the tourist sector crisis
springing from the September 11, 2001, tragedy in the United States
with no major damage. Even though in May 2002 there was a 9.2
percent decrease in the number of visitors as compared to the same
month in 2001, the negative figure had decreased to 2.8 percent last
October. Improved arrivals in November and December made Minister
Pacheco forecast that when the final figures for the year 2002
become available, the overall number of tourists for the year will
be very similar to that for 2001, when 1.132 million visited Costa
Rica.
10.85 percent devaluation
The rate of exchange per US dollar
started 2003 at 379.05 colones, 37.11 colones above the quote at the
beginning of 2002. Central Bank chairman Francisco Gutierrez
explained that the figures mean that the rate of devaluation for
last year was 10.85 percent. That rate came close to what had been
forecast by economists early in 2002, when they set it at 10 percent
to 11 percent. Gutierrez added that the daily mini-devaluation
policy followed until now will continue, and that there is no reason
for a liberalization of the rate of exchange. If everything comes
out the way it is expected, the rate of exchange will be over 400
colones per dollar by the end of 2003.
Foreigners extradited
The International Police (Interpol)
made effective the extradition of Canadian Alyn Richard Waage and US
citizen Michael Webb, who are linked to a multi-million scam through
the Internet. Both were wanted by the California East District
Court. Also extradited to the United States were Keith Eldon
Anderson, linked to money laundering; Aldo Gonzalez, wanted for drug
trafficking; and Paul Ronald Wick, for partaking in fraud. On the
other hand, the Immigration Service started deportation procedures
against women from Nicaragua, Colombia, Canada, Russia, Honduras,
and other countries, who were detained at several local night clubs
and who were here illegally.
Top gun
Some 80 journalists from the
different media partook in a survey to determine which of President
Abel PachecoΉs ministers performed the best in 2002, starting on
May 8, when they took office. The vote by far favored Minister of
Security Rogelio Ramos. According to those polled, Minister Ramos
has taken effective steps to improve overall security in Costa Rica,
a major achievement in just a few months.
Elephantiasis eradicated
The Ministry of Health is seeking the
approval of the World Health Organization to declare Costa Rica free
of the disease known as elephantiasis. It is a chronic disease of
the skin characterized by the enlargement of certain parts of the
body, in particular the legs and the genitals, and by the hardening
and ulceration of the surrounding skin. It is often due to
infestation by filarial worms. It has been 12 years since the last
case recorded here, Minister of Health Maria del Rocio Saenz
explained.
Costa Rica in the sights of Spain
The tourist potential and the
strengths of the Costa Rican canning, construction, machinery, and
chemical industries have made this country attractive to Spanish
investors, according to official sources in Barcelona, Spain. The
Dominican Republic, El Salvador, Venezuela, Peru, and Uruguay are
also in the sights of the Promotion and Support to Spanish
Investment in Non-Traditional Latin American Markets Program,
according to the sources.
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