COSTA RICA · POLITICS
Key Facts
- Power Index Costa Rica ranks 9th of 14 in The Rio Times Latin America Power Index, with 36.5 points (October 2026 edition).
- What is happening Luis Antonio Molina Chacón, deputy finance minister for spending at Hacienda, left on Saturday, 31 October 2026.
- Why it matters One of nine or ten senior exits since President Laura Fernández took office on 8 May.
- The numbers Molina served since 6 September 2023; Hacienda, the finance ministry, confirmed his exit on Monday, 2 November.
- Who is who Revenue Vice Minister Víctor Julio Carvajal Porras covers his duties; Rodrigo Chaves, the former president, is finance minister.
- What to watch Whether Hacienda names a new expenditures vice minister; no successor or policy change is announced.
- What it means for you Costa Rica’s budget and tax rules are unchanged; travellers and residents see no direct effect.
Costa Rica’s vice minister of expenditures has resigned from the finance ministry. The revenue vice minister takes over his duties.
Costa Rica’s finance ministry, known as Hacienda, confirmed on Monday, 2 November that Luis Antonio Molina Chacón has resigned. He was its vice minister of expenditures, and he left on Saturday, 31 October.
Hacienda said Molina left to take on new professional challenges and gave no other reason. His duties pass to Revenue Vice Minister Víctor Julio Carvajal Porras.
What Hacienda Has Confirmed
A vice minister is a deputy to the minister who runs part of a ministry. At Hacienda one vice minister covers revenue and another covers expenditures, the spending side of the state.
Molina took the post on 6 September 2023, under then-President Rodrigo Chaves. He stayed when President Laura Fernández, who succeeded Chaves, took office on Friday, 8 May 2026.
Hacienda’s profile of Molina lists a law degree from the University of Costa Rica and a master’s from the University of Barcelona. He also advised the Inter-American Development Bank, a regional lender, on budgets.
He later advised the Legislative Assembly, Costa Rica’s parliament. That work included the 2018 fiscal reform, the profile says.
Who Replaces the Costa Rica Finance Vice Minister
Carvajal, an economist, was sworn in as revenue vice minister on Thursday, 14 May 2026 by President Fernández. He was agriculture minister under Chaves and earlier advised the finance minister on tax policy.
He now covers both the revenue and the expenditure posts. Hacienda’s statement did not say how long that will last or whether a new vice minister will be named.
Chaves, who governed from 2022 to 2026, is now both minister of Hacienda and minister of the Presidency. The resignation does not touch his post.
One of Several Senior Exits
Local counts put senior exits since Fernández took office at nine or ten, depending on who is included. They include Foreign Minister Manuel Tovar, dismissed in September, and Labour Minister Roy Thompson, who resigned.
Foreign Trade Minister Indiana Trejos was also dismissed, as Costa Rica Fires Minister Over Pacific Pact reported. So this is not the second departure from her government but one of many.
Budget Season Adds Pressure
The 2027 budget bill is before the Legislative Assembly. Costa Rican law makes the finance minister responsible for presenting it by 1 September, and Chaves did so.
Hacienda gave no link between the resignation and the budget or any policy dispute. Its statement thanked Molina for his contribution to the ministry and the country.
What It Means for You
The change moves a deputy post, not the finance minister, so Costa Rica’s fiscal plans stand as announced. Investors in Costa Rican government bonds and US firms in the country should watch for a permanent appointment.
Related Rio Times reports are Costa Rica Bond Plan Faces Assembly Test and Costa Rica Cuts Growth Forecast to 3.2%. To see what the post does, read Costa Rica Finance Vice Ministers Explained.
More is on the Costa Rica hub and in Costa Rica Power Structure Explained. See also the San José city page and The Rio Times Latin America Power Index.
What Is Not Known
Hacienda did not say where Molina is going next or whether his successor will be a new appointment. It also did not say how long the revenue vice minister will hold both posts.
No official has publicly linked the resignation to the budget, to a dispute or to Molina’s earlier work. As of Tuesday, 3 November, no policy change at Hacienda has been announced.
What Comes Next
The next sign is whether President Fernández names a new expenditures vice minister or leaves Carvajal in both posts. That would still not change the budget law or the 2027 bill before the Assembly.
A new appointment would be published by Hacienda and the Presidency. Until then the ministry runs on one vice minister for both revenue and spending.
Frequently Asked Questions
Who resigned from Costa Rica’s finance ministry?
Luis Antonio Molina Chacón, the vice minister of expenditures, resigned effective Saturday, 31 October 2026. Hacienda confirmed it on Monday, 2 November and said he left for new professional challenges.
Who takes over the expenditure duties?
Revenue Vice Minister Víctor Julio Carvajal Porras takes over. Hacienda did not say how long that will last or whether a new vice minister will be named.
Is this the second departure from President Fernández’s government?
No, local counts put senior exits at nine or ten since she took office on 8 May 2026. They range from ministers to vice ministers and an agency head.
Does the resignation affect travellers or investors in Costa Rica?
Hacienda has announced no change to the budget, taxes or debt plans. Travellers and residents see no direct effect, and investors should watch for a permanent appointment.
Sources: Hacienda press release CP-21-2026, 14 May 2026; Ministerio de Hacienda, news and statements; Law 8131 on public financial administration and budgets; Casa Presidencial (all accessed 3 November 2026).
This article was produced by The Rio Times’ automated newsroom system. How we use AI · Report an error · Editorial responsibility: Matthias Camenzind, Editor-in-Chief