EXTRACT FROM LETTER ON COSTA RICA

• Document Type: CREST
• Collection: General CIA Records
• Document Number (FOIA) /ESDN (CREST): CIA-RDP83-00423R000301240001-0
• Release Decision: RIPPUB
• Original Classification: C
• Document Page Count: 1
• Document Creation Date: November 9, 2016
• Document Release Date: November 16, 1998
• Sequence Number: 1
• Publication Date: April 13, 1953
• Content Type: REPORT

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Approved For Release 1999/09/10 : Cl
..'1048
Country: Costa. Rica
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Subject: Extract from Letter.-te
Place Acquired:
Date Acquired: M
Date of Info.: 9 April 1953
Source Description:
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1. Costa Rica is trying to interest foreign firms in the exploration
and development of mineral and oil lands, to further bolster the
economy of the country. The Union Oil Company of California has
five geological teams in Costa Rica, and it is reported that defin-
ite indications of oil have been found in the country.
Italian Immigrants
2. Costa Rica has already initiated its plan to obtain 70,000 Italian
'migrants by 1960. The first group landed at Golfito recently and
will settle along the Costa Rican-Panamanian frontier. Other groups
arriving later will settle in Guanacaste Province, which is still
undeveloped but potentially wealthy.
Political Conditions
3. United in a common front against Figueres, the Union National and
Democrata Parties have chosen conservative Castro Cervantes, wealthy
coffee grower and businessman, as official candidate. Elections
will be held in July 1953 and women will vote for the first time.
4+. That Figueres is quite radical and Leftist in his views was proved
during his term as President pro-tem, after bringing his revolution
to a successful termination. His present program consists of a
ten per cent levy on capital, nationalization of all electric power,
higher wages for city workers, and possibly a land reform-program
of some sort. He is reported as saying that he wants to broaden the
base of the country's economy by taxing large capital holdings, which
up to now have been lightly taxed, if at all.
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