Page 166 - Caribbean-Central America Profile 2018

COSTA RICA

CARIBBEAN-CENTRAL AMERICA PROFILE 2018

TRADE & INVESTMENT GOVERNMENT First Vice President
AGREEMENTS Costa Rica is a democratic and unitary republic. Helio Fallas Venegas
Costa Rica is a member and/or signatory to: The government is divided into three branches: Casa Presidencial Apartado
• World Trade Organization (WTO). executive, legislative and judicial, each being 520-2010 Zapote,
San José, Costa Rica 1000
• Central American Common Market independent from the rest. Sovereignty is vested Tel: (506) 2207-9100
(CACM) in the people who delegate it to the powers of the
• CAFTA – DR State by universal suffrage, which is protected Second Vice President
• CARICOM by the Supreme Court of Elections, the so-called Ana Helena Chacón Echeverría
• Numerous other international agreements fourth power of the Republic. Casa Presidencial Apartado
and treaties, in efforts to promote a 520-2010 Zapote,
hemisphere-wide free trade area. The Executive Branch consists of the president, San José, Costa Rica 1000
two vice-presidents and the Government Tel: (506) 2207-9100
CENTRAL BANK Council (Consejo de Gobierno). The power
The Central Bank of Costa Rica sets and directs of the president is limited by the right of the MINISTRIES
Ministry Of Agriculture and Livestock
economic policy that affects the banking sector, legislature to override presidential veto, the Tel: (506) 2231 2344
with responsibility for formulating and directing right of the Constitutional Court to review the Fax: (506) 2296 6720
credit policies, providing the legal infrastructure constitutionality of bills and administrative acts,
for banking, issuing currency and controlling and by a provision limiting the presidential term Ministry of Culture and Youth
its circulation, and holding and administering of office to one 4-year term. Apdo. 10277-1000,
international monetary reserves. The General San José, Costa Rica
Superintendent of Financial Entities (SUGEF) Other constraints on presidential power include Tel: (506) 2255-3188
Fax: (506) 2257-8770
exercises control and supervision over financial a clause in the constitution outlawing a national
institutions, and enforces compliance with the army, which leaves no military forces at the Ministry of Economy, Industry and
Central Bank’s policies. The Financial Reform president’s disposal. The president may serve Commerce
Law of 1996 guarantees free exchange of for one term only. La Guaria, Moravia. Del Restaurante Princesa
currency. The Legislative Assembly is a unicameral body Marina, 100 m. al sur,
50 m al oeste y 25 m. al norte.
Banco Central de Costa Rica elected by direct popular vote for a four-year San José, Costa Rica.
Avenida Central y Primera, Calles term. It consists of 57 representatives, who Tel: (506) 2240 5222
2-4, Apdo. 10-058, cannot be elected for successive terms. While Fax: (506) 2297 1741
San José, Costa Rica the legislative and the executive are elected by Email: informacion@meic.go.cr
Tel: (506) 2243-3333 direct vote every four years, the Supreme Court Ministry of Environment and Energy
Fax: (506) 2223-4658 Justices are elected by the legislature for eight- Edificio Vista Palace,
year terms. Calle 25. Avenida 8 y 10
FINANCE COMPANIES San José, Costa Rica
Non-bank finance companies operate financing ELECTIONS Tel: (506) 2257-0922
intermediaries for companies and individuals. Costa Rica held parliamentary and presidential Email: prensa@minae.go.cr
Additionally they offer many of the same elections on Sunday, 2 February 2014 to elect Ministry of Finance
services as private banks. Finance companies a new president, two vice presidents, and fifty Edificio Antiguo Banco Anglo,
are required to have registered capital of at least seven Legislative Assembly lawmakers. Avenida Segunda, Calle Tercera,
twenty percent of that for private banks, and In the presidential election, Luis Guillermo San José, Costa Rica 1000
must register with the General Superintendent Solís Rivera and Johnny Araya Monge came Tel: (506) 2256-2311
Fax: (506) 2256-8464
of Financial Entities.
first and second, respectively, with neither Ministry of Foreign Affairs and Worship
NATIONAL STOCK EXCHANGE candidate reaching forty percent of the valid poll Avenida 7 y 9, Calle 11 y 13,
The Bolsa Nacional de Valores, S.A. is owned in the first round of voting, so a second round of San José, Costa Rica
by approximately six hundred institutional and voting was held; the first run-off election since Tel: (506) 2223-6006
individual shareholders. There are more than 2002. In a surprise move, Araya announced that Fax: (506) 2257-9983
one hundred and twenty issuing companies, he would abandon his campaign for the run-off Email: sec_ministro@rree.go.cr
representing the public and private sectors and election, paving the way for Luis Guillermo Ministry of Foreign Trade
thirty one companies registered with stocks. Solís Rivera to win the run-off election and Apartado 96 San Pedro
The most commonly traded instruments in the become president. The next Presidential and de Montes de Oca
securities markets are the debt securities issued Legislative Assembly elections will be February San José, Costa Rica 2050
by the Government. The National Securities 2018. Tel: (506) 2256-7111
Commission (NSC) is the regulatory body Fax: (506) 2255-3281
Email: info@comex.go.cr
overseeing the securities exchanges. GOVERNMENT LEADERS
President
Bolsa Nacional de Valores, S.A. Luis Guillermo Solís Rivera Ministry of Housing and Human Settlements
Apdo. 222-1002,
P.O. Box 03-6155, Casa Presidencial Apartado Paseo de los Estudiantes,
San José, Costa Rica 520-2010 Zapote, San José, Costa Rica
Tel: (506) 2204-4848 San José, Costa Rica 1000 Tel: (506) 2220-3831
Fax: (506) 2204-4749 Tel: (506) 2207-9100 Fax: (506) 2255-1976

C-8 Caribbean-Central American Action