Laura Chinchilla has been named President of Costa Rica !

“Today we are making history,” said Chinchilla, who will be the fifth Latin American woman to serve as president when she takes office in May. “The Costa Rican people have given me their confidence, and I will not betray it.”

Chinchilla held a 22-point lead over her closest rival with 47 per cent share of the vote — well beyond the 40 per cent needed to avoid a run-off.

The 50-year-old protege of current president, Nobel Peace Prize laureate Oscar Arias, promises to pursue the same economic policies that recently brought the country into a trade pact with the U.S. and opened commerce with China.