Voters in Costa Rica look set to punish the ruling party in Sunday’s presidential election over austerity and new taxes imposed under an International Monetary Fund deal, fatigue with Covid-19 restrictions and a weak economy.

By Michael McDonald/Bloomberg News

SAN JOSE
EnergiesNet.com 02 08 2022

 A former president running on a platform of attracting foreign investment is on track to win the first round of Costa Rica’s general election, while falling short of the threshold needed to avoid a runoff vote in April.

Jose Maria Figueres claimed victory in a speech to supporters Sunday night, and pledged to turn Costa Rica into a business-friendly country where more citizens speak English. With 74% of votes counted, he had 27% of the total, according to the electoral authority. 

“Costa Rica is going to become the winning country we all dreamed of, the winning country we all deserve,” Figueres said during a speech on Sunday night. 

Rodrigo Chaves, a World Bank economist who served briefly as finance minister, was in second place with almost 17% of votes. He said he’ll face Figueres in the second round, though as of midnight local time he only had a narrow margin over the third-placed candidate. In a speech on Sunday he promised to reduce inequality, create opportunities for entrepreneurs and lower the cost of living by breaking up monopolies. 

During the campaign he said he would continue a talks with the International Monetary Fund and seek to eliminate tax exemptions for the wealthy. 

Fabricio Alvarado, a journalist and evangelical singer, was in third place, with 15% of the vote.

A record 25 candidates were on the ballot sheets. Turnout was 60%, the lowest since at least 1953 for a first round vote, according to a local university. A runoff will be held on April 3 if no-one gets more than 40% in round one. 

bloomberg.com 02 07 2022