COSTA RICA: Finance Minister asked to resign

CENTRAL AMERICA - In Brief 29 May 2020 by Francisco de Paula Gutierrez
Finance Minister Rodrigo Chaves resigned yesterday after a conversation with President Alvarado. Alvarado was not happy with the way Chaves had handled his discrepancy with a law taking the municipal governments out from compliance with the fiscal rule. Chaves sent an open letter to the President asking him to veto the law, but Alvarado signed it. In his resignation letter, Chaves, who was only 6 months in the post, stated they have different views about the fiscal crisis and the need to take difficult decisions in order to advance towards a sustainable solution.President Alvarado designated Elian Villegas as Chaves´succesor. Villegas, a lawyer by education, has been for the past five years the Executive President of the National Insurance Institute, a state-owned company that, until the beginning of this century, held the monopoly of the insurance business in the country for more than 90 years. In his first remarks as Minister, Villegas indicated that his first major goal is to maintain fiscal discipline.

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