Economy / Costa Rica
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Investment Falters
July 2008 | Ratings UpdateSorry, you must be a subscriber to view this article in full. If you are a subscriber please login.
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Costa Rica's Housing Minister, Fernando Zumbado, announced that he was temporarily leaving his post in July amid an ongoing investigation into the alleged misuse of ministry funds. The investigation surrounds a US$1.5m donation to Costa Rica from the government of Taiwan in 2006. The donation was intended to bolster bilateral relations and help poor Costa Rican families in the capital, San José. However, the local press has suggested irregularities in the housing ministry's use of the funds. Since the donation, Costa Rica has broken off relations with Taiwan in favour of China.