International Herald Tribune
Costa Rican Congress approves ending its 84-year-old insurance monopoly
The Associated Press
2 July 2008
SAN JOSE, Costa Rica: Costa Rica is saying goodbye to its 84-year-old insurance monopoly as it opens the industry to national and international competition.
Lawmakers late Tuesday approved legislation to end the government-run Insurance Institute. President Oscar Arias is expected to sign it into law.
Last month, Costa Rica broke up its state-run telecommunications monopoly.
Washington demanded Costa Rica break up its monopolies before Oct. 1 for the implementation of the Central American Free Trade Agreement.
The rest of Central America and the Dominican Republic joined CAFTA in 2006.