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Right-wing former Finance Minister Rodrigo Chaves will take over as Costa Rica’s new president on May 8 after winning Sunday’s election, poised to oversee the challenge of reinvigorating the country’s battered economy.

With 96% of the votes counted, Chaves held a close to 6 percentage point lead in provisional results over Jose Maria Figueres, the centrist former president, according to the Supreme Electoral Court (TSE).

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