Costa Rica

Although explored by the Spanish early in the 16th century, initial attempts at colonizing Costa Rica proved unsuccessful due to a combination of factors, including: disease from mosquito-infested swamps, brutal heat, resistance by natives, and pirate raids. It was not until 1563 that a permanent settlement of Cartago was established in the cooler, fertile central highlands. The area remained a colony for some two and a half centuries. In 1821, Costa Rica became one of several Central American provinces that jointly declared their independence from Spain. Two years later it joined the United Provinces of Central America, but this federation disintegrated in 1838, at which time Costa Rica proclaimed its sovereignty and independence. Since the late 19th century, only two brief periods of violence have marred the country's democratic development. Although it still maintains a large agricultural sector, Costa Rica has expanded its economy to include strong technology and tourism industries. The standard of living is relatively high. Land ownership is widespread.

Economical characteristics

• Currency: Costa Rican colón (ISO code: CRC)
• Central bank discount rate: 25% (31 December 2008)
• Commercial banks lending rate: 15.83% (31 December 2008)
• Stock of money (M1): $4.209 billion (31 December 2008)
• Quasi money (with M1 makes M2): $3.143 billion (31 December 2008)

Statistics

Statistic / Year	1999	2000	2001	2002	2003	2004	2005	2006	2007	2008
GDP (million USD)	15 797	15 946	16 404	16 844	17 518	18 596	19 965	22 526	26 267	29 664
Govt. debt (% of GDP)	36.191	36.250	38.310
Govt. revenue (% of GDP)										25.339
Govt. expenses (% of GDP)										22.495
Debt to revenue (years)

References

Note: statistical data was rounded. Different sources may use different methodologies for their estimates. Debt to revenue is calculated by dividing the two variables from their original ('unrounded') values. It represents how long it would a government take to repay its entire debt if it used its whole revenue for this purpose.

External links

• Costa Rica on Wikipedia
• Central bank of Costa Rica
• BBC country profile