Costa Rica has a reputation as one of the most stable, prosperous, and least corrupt Latin American countries. But in fall 2004, three former Costa Rican presidents (José Maria Figueres Olsen, Miguel Angel Rodríguez, and Rafael Angel Calderon) were investigated on corruption charges. In 2006, Óscar Arias Sánchez was elected president. Arias, who had served as president once before (1986–1990), won the Nobel Peace Prize in 1987 for fostering peace talks that eventually ended the civil wars in El Salvador and Nicaragua.
The Costa Rican government voted in November 2008 to implement the Central American Free Trade Agreement that voters had approved in October 2007.