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Costa Rica News - February 17, 2006

Oscar Fonseca, president of the Tribunales Supremo de Elecciones, denies any instances of fraud having been encountered during the manual vote count of the Feb. 5 presidential elections Costa Rican electoral officials began counting votes by hand last week, in a laborious effort to determine the winner of one of the country's closest presidential races in history between candidates Oscar Arias and Ottón Solís.

Gasoline Price Goes Up, Soon to Come Down Again
Gasoline prices are becoming like a rollercoaster, as the Refinadora Costarricense de Petróleo (Recope) informs that it will be making a request to lower gasoline prices, a day ahead of an increase. The reason? the price of crude oil on international markets has been dropping.

This morning Costa Ricans woke up to new gasoline prices, a hike of ¢31 colones for a litre of super, ¢30 for regular and ¢16 for diesel.

This is the second increase in gasoline prices by Recope this year, not counting the 3% automatic increase on the tax on gasoline products.

Recope did not specify the reduction amount it will ask the Autoridad Reguladora de Servicios Públicos (ARESEP).

Inflation Loses Momentum
Several indicators show that inflation in Costa Rica is de-accelerating.

According to economists Felix Delgado and Luis Mesalles, this trend is prompted by the fact that oil prices tended to stability in the latter part of 2005.

They explained that the current situation is that prices continue increasing, but at slower rate than they did before. In January, the index increased 1.17 percent.

Delgado pointed out that if oil prices do not undergo upward flares, like they did last year, inflation will be lower in 2006 than in 2005, when it surpassed 14 percent.

The Central Bank had set an 11 percent inflation as the goal for this year; however, president Francisco Gutierrez chose to analyze the current data before making any statements on the behavior of inflation.

“Christopher Howard’s Relocation/Retirement Tour to Be on the NBC Today Show”
Because of Costa Rica’s growing popularity as a retirement destination for Baby Boomers, the NBC Today Show will be sending a report a camera crew to Costa Rica this month.

They will be filming from February 22nd through the 24th.

First they will interview an American couple that moved here and started a business in Tamarindo. On Friday the 23rd they will shoot the Association of resident’s of Costa Rica’s monthly seminar. Then on Saturday they will spend the entire day filming Christopher Howard’s Relocation/retirement Tour. >> Read more

New Costa Rica Destination Showcases
at Miami Boat Show

In just three months, Costa Rica's Bahia Escondida reports more than us$22 million in sales, mostly to South Florida buyers.

Home to mega yacht pleasure cruisers and fishing enthusiasts, Bahia Escondida announced today that its residential phase one is 90% sold out and remaining residential and marina slip opportunities will be showcased at the Miami International Boat Show February 16-20 at booth #2510. >> Read more

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