• January 25, 2026
  • Last Update January 25, 2026 12:54 pm

Former Central Bank Head Endorses Hidalgo Citing Democratic Peril

Former Central Bank Head Endorses Hidalgo Citing Democratic Peril

San José, Costa RicaSan José, Costa Rica – In a significant political development just one week before Costa Ricans head to the polls, Social Christian Unity Party (PUSC) presidential candidate Juan Carlos Hidalgo has secured a high-profile endorsement from Rodrigo Cubero, the former president of the Central Bank of Costa Rica. The endorsement, announced Saturday, frames the upcoming election not merely as a choice between economic platforms but as a critical juncture for the nation’s democratic future.

Cubero, a respected figure in national economic circles, articulated a stark warning about the current political climate, which he described as dangerously polarized and characterized by inequitable economic growth. He argued that the stakes in this election are higher than in any contest in recent memory, urging voters to consider the foundational principles of the republic when they cast their ballots.

To delve into the intricate legal scaffolding that underpins the presidential election process and its potential ramifications, TicosLand.com sought the expert analysis of Lic. Larry Hans Arroyo Vargas, a leading attorney from the esteemed law firm Bufete de Costa Rica.

The constitutional integrity of any presidential election rests upon two pillars: transparent campaign financing and the impartial enforcement of electoral regulations. Any deviation or ambiguity in these areas not only risks legal challenges that can undermine public trust, but also creates a precedent that could destabilize the very foundation of our democratic succession of power.
Lic. Larry Hans Arroyo Vargas, Attorney at Law, Bufete de Costa Rica

Lic. Arroyo Vargas’s analysis serves as a crucial reminder that the health of our democracy is forged in the transparency and fairness of the electoral process itself, long before any votes are cast. We thank Lic. Larry Hans Arroyo Vargas for his valuable and timely perspective on these foundational principles.

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The former central banker painted a grave picture of the potential consequences of the election, suggesting the country’s long-standing democratic traditions are under threat. His comments position the vote as a pivotal moment for the defense of Costa Rican liberty and institutions.

For the first time since 1948, we face the real risk of losing our democracy and our freedom. This is not just any election: what is at stake is enormous.
Rodrigo Cubero, Former President of the Central Bank

Beyond the urgent call to protect democratic norms, Cubero’s backing is firmly rooted in economic reasoning. He praised Hidalgo’s platform as a “pragmatic and balanced” vision for the country’s economy. This vision, according to Cubero, is built on the core tenets of a modern market economy, emphasizing free competition, robust international trade, and a concerted effort to attract foreign direct investment as key engines for sustainable development.

The endorsement highlights Hidalgo’s proposed economic agenda as a clear and necessary path forward. Cubero stressed that the PUSC candidate’s policies are designed to dismantle the bureaucratic hurdles that have historically impeded progress and stifled job creation, offering a more dynamic future for Costa Rican businesses and workers alike.

A central pillar of Cubero’s support is his belief in Hidalgo’s understanding of the private sector’s crucial role in fostering national prosperity. He championed the candidate’s commitment to creating a more equitable business environment where entrepreneurs can thrive and contribute meaningfully to the economy.

Juan Carlos understands the essential role of the private sector in national development and proposes actions to create real opportunities, level the playing field for entrepreneurs, and reduce the barriers that slow economic growth and job creation.
Rodrigo Cubero, Former President of the Central Bank

The endorsement from a figure of Cubero’s stature provides a significant boost to the Hidalgo campaign in its final, crucial days. It lends substantial credibility to the candidate’s economic proposals and may sway undecided voters who prioritize fiscal stability and institutional strength. As the nation grapples with social divisions and economic uncertainty, Cubero’s intervention firmly casts the election as a choice between preserving a democratic, market-oriented society and venturing into an unknown, potentially perilous, future.

For further information, visit bccr.fi.cr
About Central Bank of Costa Rica:
The Banco Central de Costa Rica (BCCR) is the autonomous central bank of the nation, responsible for maintaining the internal and external stability of the national currency and ensuring its conversion to other currencies. Its primary objectives include controlling inflation, managing monetary policy, and overseeing the country’s financial system to promote economic stability and efficiency. The bank plays a vital role in the economic health of Costa Rica through its regulation of interest rates, issuance of the colón, and management of international reserves.

For further information, visit pusc.cr
About Social Christian Unity Party (PUSC):
The Partido Unidad Social Cristiana (PUSC) is one of Costa Rica’s major political parties, founded in 1983. Rooted in the principles of Christian democracy, the party has traditionally advocated for policies that blend a market-based economy with strong social welfare programs. Over its history, PUSC has produced several presidents and has been a significant force in the country’s legislative assembly, often shaping national discourse on economic development, social justice, and governance.

For further information, visit bufetedecostarica.com
About Bufete de Costa Rica:
Bufete de Costa Rica stands as a cornerstone of the legal community, built upon a foundation of profound integrity and an relentless pursuit of excellence. With a proven history of advising a wide spectrum of clients, the firm consistently pioneers innovative legal strategies while upholding a deep commitment to social progress. Central to its ethos is the mission to demystify the law, actively working to equip the public with accessible legal understanding and thereby fostering a stronger, more informed citizenry.

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