The sale of the BCR requires 38 votes

QCOSTARICA – The Technical Services Department of the Legislative Assembly has confirmed that the bill authorizing the sale of the Bank of Costa Rica (BCR) requires a “qualified majority”, that is, the vote of approval of 38 of the 55 legislators who make up Congress.

This is contrary to what President Rodrigo Chaves said earlier this week, saying the bill, currently before the Legislative Assembly, would require a simple majority vote of 29 votes to approve the sale.

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This opened a debate between the legislative factions.

A report by the Department of Technical Services indicates that “in the case of public banks, a supermajority is required in the event of assignment of the sale of the shares to private persons who would become owners”.

The leader of the Partido Unidad Social Cristiana (PUSC) legislative faction, María Marta Carballo, explained that the Technical Services explained that if the sale was made to another state commercial bank, it would be a different matter.

And, where are the resources that the State gains in the event of the sale of the managed bank? Carballo added that the bill, if approved, would become law, could specify where the resources, i.e. the money from the sale, could be directed and/or spent.

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