President-elect Rodrigo Chaves greets supporters. Picture: BLOOMBERG
Long an oasis of stability in a region plagued by violence, Costa Rica had a choice of president between two investor-friendly candidates, setting it apart from neighbours led by fiery radicals such as El Salvador’s Nayib Bukele and Nicaragua’s Daniel Ortega. Costa Rica’s dollar-denominated bonds traded higher on Monday, with those due in 2045 at 99.8c on the dollar, the highest since February 22. The nation’s bonds have returned 1.4% this year vs an average loss of 9.5% across emerging markets, according to data compiled by JPMorgan Chase.
Chaves, who earned a PhD in economics from Ohio State University, promised to cut red tape to foster an environment where entrepreneurs can thrive and said he can promote a low interest rate environment to spur investment.
There's that austerity thing again. Code for we all know what. Ticos are in trouble.