Costa Rica drops two spots in 2017 Doing Business index

The 2017 World Bank Doing Business index placed Costa Rica at 62 out of 190 countries in the global ranking, two spots lower as compared to 2016 (La Nación, 25 October 2016). Some of the challenges facing the country include contract enforcement, insolvency resolution, and the protection of minority investors. The government has responded to these indicators by highlighting recent positive developments, such as Law 9392, which came into force on 4 October, that amends the Commercial Code and the Civil Procedure Code to increase transparency and the rights of stockholders on issues of corporate governance (Crhoy). The government is also working on a new bankruptcy law aimed at improving insolvency resolution (Crhoy).