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LatinNews Daily - 24 May 2021

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In brief: Costa Rica formally joins OECD

* Costa Rica’s President Carlos Alvarado has promulgated legislation passed last week by the national assembly, enacting Costa Rica’s accession to the Organisation for Economic Co-operation and Development (OECD). Costa Rica was formally invited to join the OECD last year after successfully completing in-depth technical reviews by 22 OECD committees and carrying out important reforms that have allowed the country to align its legislation, policies, and practices to OECD standards in areas such as competition, statistics, anti-bribery, corporate governance of state-owned enterprises, financial markets, tax transparency, and industrial chemicals management.Costa Rica will become only the fourth country from the Latin America and Caribbean region to join the OECD following in the footsteps of Mexico, Chile, and Colombia.