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Economist to be sworn in as Costa Rica president

AFP

Economist and former finance minister Rodrigo Chaves is to be sworn in Sunday as Costa Rica’s president for a four-year mandate focused on reinvigorating one of Latin America’s most stable economies.

The former World Bank executive, who resigned from the global lender amid a sexual harassment scandal, has vowed to tackle Costa Rica’s severe economic problems: rising foreign debt — about 70 percent of GDP — a poverty rate of 23 percent, unemployment of 14 percent and public sector corruption.

Tourism, one of the country’s main economic drivers, was hard hit by the coronavirus pandemic, and the country of 5.2 million people experienced an increase in unemployment equaled in the region only by Peru. 

“It is fundamental for the country that Chaves improves the economy,” Adrian Aguiluz, a 35-year-old resident of the capital, said ahead of the inauguration.

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“This new government has an opportunity to do something different.”

Chaves, who served six months as finance minister in the outgoing government, won a runoff election over former president Jose Maria Figueres — himself tainted by a corruption scandal.

The 60-year-old Chaves had been a surprise qualifier for the April 3 runoff, having polled fourth ahead of February’s first round.

While he was a senior official at the World Bank, where he worked for 30 years, he was investigated over sexual harassment complaints brought by multiple women.

He was demoted, and later resigned to take on the role of finance minister in President Carlos Alvarado’s government.

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Last month, Chaves offered “sincere apologies” to two accusers, young subordinates, having previously said the alleged harassment amounted to mere “jokes” that were “misinterpreted due to cultural differences.”

This week, Chaves said his government would not ratify the Escazu Agreement that establishes protection for environmentalists, arguing it was unnecessary and would harm the economy. Costa Rica, a regional leader in environmental protection,had  hosted the signing of the agreement in 2018.

The new president has also vowed to improve Costa Rica’s deal with the IMF for a loan of more than $1.7 billion.

Spanish King Felipe VI is set to attend the ceremony in San Jose, along with delegations from nearly 100 countries.

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Central America

Sheinbaum and Petro reaffirm solidarity with Panama after Trump’s remarks on Canal

Latin American leaders expressed their support for Panama and emphasized the nation’s sovereignty over the canal that connects the Atlantic and Pacific Oceans, following statements by U.S. President-elect Donald Trump, who suggested he might attempt to regain control of the waterway built across the Panamanian isthmus.

“The Panama Canal belongs to the Panamanians. Our solidarity and support go to the President of Panama and the people of Panama,” said Mexico’s President, Claudia Sheinbaum, during her regular morning press conference.

Colombian President Gustavo Petro also weighed in on the controversy, writing on social media X, “I will stand with Panama and defend its sovereignty to the last consequences.”

Sheinbaum and Petro reaffirmed their support for Panamanian President José Raúl Mulino, who strongly rejected Trump’s threats. The president-elect, who will take office on January 20, stated during a rally that the United States “foolishly” handed over the Panama Canal to its Central American ally.

The United States built much of the Panama Canal in the early 20th century in an effort to facilitate the movement of commercial and military ships across the transoceanic route, which it then administered for nearly 100 years.

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Central America

El Salvador’s MARN monitors ongoing seismic activity in La Unión department

Seismic activity in the Conchagua area and its surroundings, located in the department of La Unión, continues to accumulate events, surpassing 1,350 aftershocks as of Wednesday morning, according to the Ministry of Environment and Natural Resources (MARN).

As of 6:00 AM on December 18th, a total of 1,351 earthquakes have been recorded, of which 176 were felt, according to the data published by the Ministry of Environment. The seismic activity in this area of the eastern part of the country began on December 8th after a magnitude 5.8 earthquake was recorded at 9:50 PM. The magnitudes of the aftershocks have ranged between 2.5 and 5.0.

The Ministry of Environment continues to monitor seismic activity in this region and throughout El Salvador to take appropriate measures and ensure the safety of the Salvadoran population.

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Sports

Real Madrid clinches fourth Intercontinental Cup with 3-0 victory over Pachuca

Real Madrid crowned themselves champions of their fourth Intercontinental Cup on Wednesday, defeating Mexican club Pachuca 3-0 in Doha, thanks to goals from Frenchman Kylian Mbappé and Brazilians Rodrygo and Vinicius.

The ‘Merengues’ thus capped off a spectacular 2024 year, winning five titles. Before this success in Qatar, they had already claimed the Spanish League, the UEFA Champions League, and the Super Cups of Spain and Europe.

Mbappé, who made his return after a minor muscle injury, capitalized on a pass from Brazilian Vinicius in the 37th minute, who dribbled past goalkeeper Carlos Moreno, to finish from close range. It was the first shot on target for Real Madrid.

The team doubled their lead with another brilliant goal from Rodrygo, who feigned a shot to beat his defenders and created enough space to take a strike from the edge of the area, beating Moreno in the 53rd minute.

For a few moments, the goal was under review after Venezuelan referee Jesús Valenzuela was called to check a potential offside by Jude Bellingham.

However, the referee concluded that the Englishman did not interfere with the play and the goal was allowed.

Five minutes later, Belgian goalkeeper Thibaut Courtois had to use his hand to stop a dangerous ball, which Salomón Rondón almost put into the net.

Mbappé, who had scored a hat-trick in the 2022 World Cup final that was lost to Argentina’s Lionel Messi in the same Lusail stadium, left the pitch in the 62nd minute on the decision of Italian coach Carlo Ancelotti, who lifted his 15th title with the club—one more than the legendary Miguel Muñoz.

When it seemed like the players of Uruguayan Guillermo Almada had gained some initiative, Oussama Idrissi fouled Lucas Vázquez inside the area, and the penalty was reviewed via VAR.

Vinicius converted the spot-kick in the 84th minute with a low, powerful shot that Moreno touched but could not save.

The newly named FIFA Player of the Year had another chance to score, while Ángel Mena managed to head the ball into the net before the 90-minute mark, but his goal was ruled offside.

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