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Caribbean & Central America - May 2014 (ISSN 1741-4458)

COSTA RICA: Solís takes the reins of power

Following his expected victory in the 6 April presidential run-off [RC-14-04] Luis Guillermo Solís was sworn-in as president on 8 May giving the centre-left Partido Acción Ciudadana (PAC) its first four-year term in office. Solís had already been compelled to offer reassurances to the private sector in the face of efforts by the outgoing centrist Partido Liberación Nacional (PLN) government led by former president, Laura Chinchilla (2010-2014), to paint him as a radical leftist during the campaign. However, the 8 April announcement by US chipmaker, Intel, that it was closing its assembly operations in Costa Rica –where it accounts for 6% of the country’s GDP and 20.7% of its total exports (see next page) – has further upped the pressure on the new president to make good his pledge to focus on attracting foreign direct investment (FDI). That Solís is keen to provide these assurances have been illustrated in his initial moves, not least his choice of cabinet.

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