In the Costa Rican News - October 06

Major ports to be opened to Private Concessionaires

Residents of the town of Puerto Limon are currently fearing the worst, as the governments proposal to open the nations to largest ports, Limon and Moin, to private concessionaires builds steam.

When this happened in Caldero, it resulted in nearly 1000 government staff being laid off in order to reduce costs and maximize profitability.

The thought of this being repeated in Limon and Moin has sparked off protests from both residents and port workers alike. A week of slowed productivity in the ports, which is believed to have cost in the region of $10 million in lost revenue due to backed up trucks and boats full of cargo and deteriorating fruit. This was then backed up with a protest march from both workers and residents of the two ports.

Oscar Arias, last week, put up a strong statement of intent to proceed with his plans, by sending out hundreds of national police to break up the march in the streets of Limon. Arias then appeared on TV to make it clear to the nation that he believes in his decision and will stick with it by opening up the two ports to private concessionaires.

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Ruiz has last word on CAFTA Debate

Costa Rica's Foreign Trade Minister, Marco Vinicio Ruiz, may well have had, what appears to have been, the last word in the Legislative Assembly's final hearing on the Central American Free Trade Agreement (CAFTA) with the US, before it hits the main floor for debate.

After the hearing on Wednesday, Ruiz said that President Arias' goal to have the legislation passed by December is still feasible.

Over the past year, since the CAFTA was sent to the Legislative Assembly, nearly 50 hearings have taken place, as did the final scheduled hearing with Ruiz on Wednesday.

Ruiz then came forward to state that if Costa Rica are to meet the March 1st 2008 deadline for approval of not just the CAFTA, but the entire implementation agenda as well, some serious work is going to have to be done by legislators.

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October Exchange Rates

The Exchange rates below are not accurate on a daily basis but just an approximation for your benefit. For more up to date exchanges rates please visit your local bank or online with a currency seller.

Costa Rican Colon

946.73 638.03 522.53

US Dollar

1.86 1.3 1.00

Usually in Costa Rica US Dollars or Costa Rica Colones can be used. in popular areas and in larger shops US dollars will be more widely accepted. However in small towns and locally run stores only Colones will be accepted.

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