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Central Bank President to Stay
Following last week's
disturbances and what many feel
the government's caving in to
the protestors demands, by
giving public employees and
additional 0.05% pay increase,
we saw the resignations of
Revenue Minister, Alberto Dent,
on Tuesday, and Ronulfo Jiménez,
economic coordinator on
Wednesday.
Today's Stories:
Central
Bank President to Stay
Shell
to Sell Gasoline with Additives
Costa
Rican Coffee Big Hit in China
Tico
Doctor Charged in the U.S.
Second
in Democratic Development
Limited
Access to the Internet
FIFA
WORLD CUP:
Costa Rica has tough trip ahead
Inflation
Up
Did
you know?
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Inflation
Up
According to
information put out by the
Nacional de Estadística y Censo
(INEC), the inflation rate for
the first eight months of this
year was 8.68%, up from 5.6% in
2003 and 6.6% in 2002, for the
same period.
The contributing factors in the
rise in inflation were the cost
of electrical service (2.04%),
bus fares (5.13%), gasoline
(2.67%), eggs (2.58%) and rice
(1.60%).
However, some prices dropped
during this period, like the
price of vegetables: potatoes
(-14.88%), tomatoes (-40.01%),
papaya (-23.15%) and peppers
(-23.33%).
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Did you
Know?
In
1982, Costa Rica signed an
agreement with Panama to join
two adjacent protected areas,
one in each nation, to form the
first transfrontier park known
as the La Amistad Biosphere
Reserve.
This park is one of the richest
ecological biospheres in Central
America.
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Yesterday,
rumours were dispelled that
Banco Central president
Francisco de Paula Gutiérrez was
also going to resign.
However, later in the day,
Gutiérrez made an official
announcement that we would stay
on for a time longer.
Gutiérrez told the press in a
late afternoon press conference
that he will continue his battle
against inflation and to
maintain economic stability in
the country.
Gutiérrez added that the current
monetary policies have to be
closely watched to quench the
rising inflation rate, as it has
been happening this year.
Gutiérrez attributed the rising
cost of consumer goods like
gasoline to the unfavorable
developments in the
international oil markets and
raw materials.
Rumours had been floating in
political circles all day,
especially following the
denouncement by Ricardo Toledo,
Minister for the Presidency,
that were could be more
resignations coming, like that
of Exterior Minister, Alberto
Trejos and Economic Minister,
Gilberto Barrantes.
Shell to Sell Gasoline with
Additives
In an
attempt to lure more customers
to it's pumps and perhaps give a
little more value to high cost
of gasoline in Costa Rica, Shell
has announced that it's gasoline
will have additives that improve
engine performance, while
eliminating engine corrosion,
cleaning the valves and
injectors.
Shell Costa Rica says that the
additives will help fuel flow
that affects engine performance
and will allow the engine to use
less gasoline for better
mileage. Shell says that the
additives are added to all
gasoline the company sells in
some 140 countries around the
world.
According to the directors of
Shell Costa Rica, their gasoline
will not cost more.
In Costa Rica, the Refinadora
Costarricense de Petróleo SA (Recope)
sells gasoline to all the
gasoline stations in the country
and the Autoridad Reguladora de
los Servicios Públicos (Aresep)
sets the prices and conditions
of sale.
Recope would not comment on
Shell's decision, saying only
that it has no control over the
gasoline once it leaves it's
storage tanks. The
responsibility in Shell's case
clear falls on the hands of the
Aresep.
Recope also said that there have
been additive products on the
Costa Rican market for some
time. Consumers can add any
number of competing products to
their gas tanks to improve
engine performance and/or keep
their engines tuned. However, it
has not added any additives to
it's gasoline products.
Costa Rican Coffee Big Hit in
China
Traditionally, China has been a
"tea" country. However, coffee
is now coming to fashion in
China and producers are taking
the opportunity to explore the
Oriental market.
Café Britt de Costa Rica reports
that is has incursed into the
China market for the last four
months and is happy with the
early results.
According to Pablo Vargas,
manager of Café Britt, he
expects China to be a major
consumer of coffee in the long
term and is making sure that his
company gets a foot hold.
However, it's not just Costa
Rican coffee that is invading
the Chinese market, chocolate is
also knocking on China's door.
Café Britt is also exporting to
China it's chocoloate covered
coffee grain "chocolates Britt"
which according to Vargas is
being accepted by consumers.
Café Britt was founded 19 years
ago by Steve Aronson, an
American who made Costa Rica his
home. The company has plans to
distribute it's coffee products
to a large number of hotels and
supermarkets in China.
Tico Doctor Charged in the U.S.
Doctor
Jorge Martinez, a citizen of
Costa Rica, who got his medical
degree in Mexico, set up his
medical practice in the
Cleveland, Ohio, area doctor is
behind bars Thursday, charged
with pushing narcotics and
ripping off the federal
government.
Martinez, was put in handcuffs
at his million-dollar home
Thursday morning as federal
agents began to raid his
offices.
Over the past few years, the
doctor has amassed a fortune in
the pain management business.
Agents with search warrants
raided his officeThursday
morning, carting off box loads
of documents.
The grand total, about $49
million in fraudulent charges.
They claim his so-called pain
management practice was just an
easy way to sell the narcotic
Oxycontin - pushing out more
than 149,000 10-milligram pills.
Two of his patients died after
overdosing on the medication.
The indictment claims that
Martinez knew that persons who
came to see him were already
addicted to controlled
substances.
The government has frozen the
doctor’s home and his bank
accounts related to his offices.
Martinez will stay behind bars
for the near future. A bond
hearing will be held on Tuesday
morning, but chances are good
that he will not be released
from jail because he is not an
American citizen.
Second in Democratic Development
Costa Rica places second in
democratic development in Latin
America, according to a study by
the German Konrad Adenauer
Foundation that took in 18
nations in the region.
The study is sponsored by the
Inter American Network for
Democracy, in which 270
non-governmental organizations
take part.
The democratic development index
is based on the basic conditions
of democracy, observance of
political rights and civil
liberties, the quality of
institutions, political
efficiency, and the exercise of
true power to govern.
Chile is at the top of the list,
while Uruguay, Paraguay, Panama,
and Mexico follow Costa Rica.
Venezuela is at the bottom of
the list.
Limited Access to the Internet
In spite of the programs and
efforts made by the Omar Dengo
Foundation - which promotes the
use of computers in schools -
and the Ministry of Education,
only 27 percent of the students
in public schools have access to
the Internet, according to
official estimates.
Sources at the Ministry of
Education said that the figures
are expected to double next
year, once several obstacles are
overcome, particularly the
economic one.
They explained that the cost of
connection had to be met by
school boards, which simply do
not have enough money.
This problem was partly solve
through an agreement with the
state's power and communications
institution (ICE in Spanish),
which has allotted $595,000 to
that end for the year 2005.
FIFA WORLD CUP:
Costa Rica has
tough trip ahead
Costa Rica
will be haunted by memories of a
stadium disaster and crowd
hostility as the team visits
Guatemala for Sunday's CONCACAF
zone World Cup qualifier.
Costa Rica, who was unlucky to
be knocked out of the 2002 World
Cup at the first stage, has made
a dismal start in its attempt to
reach its second successive
finals.
The Ticos scraped through their
first-round game against Cuba on
away goals and began the second
round with a 5-2 home defeat by
Honduras.
They now travel to in-form
Guatemala, who is unbeaten in
eight games and won 2-0 in
Canada two weeks ago, for its
Group B match. Guatemala is
attempting to qualify for its
first World Cup.
The match will be played in
Guatemala City's Mateo Flores
stadium, where more than 80 died
in a crush before the two teams
met in a qualifier for the 1998
World Cup.
When Costa Rica returned for
another match four years later
-- in a different stadium -- the
team claimed it was kept up all
night by supporters outside the
hotel. "It was a complete
scandal, but anything goes in
this type of tournament, there's
so much at stake," said Costa
Rica midfielder Walter Centeno. |