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Luis Alberto Monge Álvarez
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Luis Alberto Monge Álvarez

president of Costa Rica
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Luis Alberto Monge Álvarez served as the president of Costa Rica from 1982 to 1986. He inherited a country facing severe economic challenges, including a large foreign debt and high inflation. The International Monetary Fund (IMF) and the World Bank required Monge to implement austerity measures, such as devaluing the currency, cutting budgets, and reducing subsidies, in exchange for extending Costa Rica's debts.1

Monge also navigated complex foreign policy issues, particularly pressure from the United States to support the anti-Sandinista counterrevolution in Nicaragua. Despite public opinion favoring neutrality, Monge officially declared Costa Rica neutral while secretly cooperating with the U.S.. He was succeeded by Óscar Arias Sánchez in 1986, who continued to grapple with economic problems and regional conflicts.1

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2 Britannica Sources
  1. history of Costa Rica - Costa Rica from 1974 to 2000
  2. Costa Rica - Costa Rica from 1974 to 2000

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