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COSTA RICA - PRESIDENTIAL ELECTIONS 2022, SUMMARY OF MAIN EVENTS

May/2022

During April, a new election process was completed in Costa Rica. After two electoral rounds, the presidential candidate Rodrigo Chaves of the Social Democratic Party was elected as the next President of Costa Rica. This electoral process also appointed the new 57 Congressman who will be part of the Legislative Assembly.

President-elect Chaves has a Ph.D. in economics from Ohio State University, worked for the World Bank for 28 years, and has extensive experience in macroeconomics, public policy, and finance. As part of his political career, he was Minister of Finance for the current administration, for a period of seven months.

The legislature for the 2022-2026 term will have a representation of six political parties. On May 1, 2022, in compliance with the constitutional mandate, the Legislative Assembly held the opening session of a new term, electing the six people that form the Legislative Directory. Rodrigo Arias was elected as president of the Legislative Assembly for the period 2022 to 2023, he will be accompanied by Gloria Navas as vice president, Melina Ajoy as first secretary and Luz Mary Alpízar as second secretary.

In relation to the cabinet, the new incoming Government has already made some announcements of Ministers, among which the following stand out:

  • Ministry of Presidency, Natalia Diaz.
  • Ministry of Finance, Nogui Acosta.
  • Ministry of Foreign Affairs and Worship, Arnoldo André Tinoco.
  • Ministry of Foreign Trade, Manuel Tovar.
  • Costa Rican Social Security Administration, Álvaro Ramos.

 

In parallel to this process, the new administration is working on bills and executive decrees to solve immediate needs. So far, some issues have been discussed such as: regulation of administrative procedures, reduction of the cost of living, measures for the economic stability of the country, among others.

Finally, on May 8th, 2022, the transfer of powers will take place in the legislative building. In this act, the president-elect will take office.

The Department of Government Affairs of ARIAS will keep you informed of the main changes and proposals of the new administration. If you would like to manage regulatory and Government risk, please do not hesitate to contact us and we will gladly send you a quote. This type of low-cost service generates a high added value during the decision-making process.

 

Jossue Chacón
Trade Specialist

jossue.chacon@ariaslaw.com

 

Laura Pérez Molina
Government and International Affairs Manager

laura.perez@ariaslaw.com


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