On February 13th, the plenary session in it’s first debate approved with 37 votes the agreement between the Republic of Costa Rica and the Organization for Economic Cooperation and Development (OECD), on privileges, immunities and facilities granted to the organization. In this way, the country continues to advance in its process of joining the OECD. Now the bill will be sent to the Constitutional Chamber to be submitted for consultation for a period of one month before returning to the plenary session of the Assembly for its second debate, according to the legislative process.
This Agreement recognizes the OECD’s legal personality, which entitles it to enter into contracts, acquire and dispose of movable and immovable property and to take legal action. The text provides that the Organization may hold foreign currency of any kind and operate accounts in any currency. The Organization may freely transfer its funds within, outside of and to the territory of Costa Rica and convert to another currency the money it has in custody.
The initiative includes the regulations included in the Convention on the Privileges and Immunities of the United Nations adopted by the General Assembly of the United Nations on February 13th, 1946.