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Significance

Former President Jose Maria Figueres (1994-98) has won the largest vote share. In a surprise result, former Finance Minister Rodrigo Chaves looks set to join him in the second round, having enjoyed a last-minute surge of support to overtake several other candidates.

Impacts

Any further upsurge in COVID-19 cases could weigh on turnout on April 3.

An early dilemma for the new president will be how to fulfil IMF commitments, potentially affecting fiscal policy over the next two years.

Many of the smaller parties competing in the elections are now likely to dissolve, having failed to gain even 1% of the vote.

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