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A free economy
Costa Rica and Panama, preceded by Chile and El Salvador, share the third position in the Latin American ranking of free economies. Costa Rican economy is also 30th among 141 nations. These data are part of those recorded in the 2007 Annual Report on Economic Freedom in the World, issued by the Cato Institute in the United States and the Fraser Institute in Canada. According to the report Hong Kong is at the top of the world ranking, followed by Singapore, New Zealand, Switzerland, and the United States. On the opposite side, Venezuela, which used to be at the top of free economies in Latin America, has dropped to position 135th, surpassing only five African countries and an Asian one.
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