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Saturday, Jun 07, 2025

Rodrigo Chaves Addresses Controversial Video on National Bank Loan Negotiation

Costa Rican President acknowledges mishap in discussing sensitive loan details during a government meeting.
Costa Rican President Rodrigo Chaves stated on Tuesday that a video revealing sensitive information about a bank loan negotiation should not have been filmed or released publicly.

This admission came during an interview with the news program _Telediario_ on Multimedios Canal 8. Chaves expressed that the intention of the Government Council was to bring to light necessary discussions regarding public financial management.

The video in question was recorded during the swearing-in ceremony of the new Board of Directors of the Banco Nacional, which occurred on May 28. This event followed the controversial dismissal of the previous leadership by Vice President Stephan Brunner, which stemmed from an internal dispute over the appointment of General Manager Rosaysella Ulloa.

Chaves specified that the video was inadvertently uploaded by a 'young staff member' who was recording the Council of Government session.

In his comments, he stated, "The video should not have been filmed, nor should it have been uploaded.

I told the Minister, ‘Do not fire her, do not sanction her.’ It was a mistake; it should not have happened."

In the deleted video, President Chaves mentioned ongoing negotiations to refinance nearly $100 million in loans for a company with close ties to traditional political powers.

He emphasized the delicate nature of these negotiations, which he asserted posed a threat to the reputation of state banking institutions, specifically regarding fraud allegations and asset management issues.

After the video was sent to the media at 4:09 PM on the same day via a YouTube link and a WeTransfer package, it was removed from YouTube approximately an hour and a half later.

The WeTransfer version remained available, but it excluded the segment where Chaves discussed the specific loan details with the board members.
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