Moody’s rating agency placed Costa Rica’s long-term ratings and the ratings of unsecured bonds under review because of: 1. Expectations of a continuous worsening of fiscal indicators and public debt and the evidence of an increase in financing pressures. 2. Reservations on the ability of the government to implement an effective fiscal consolidation plan and […]
Costa Rica News, Summarized in English and Linked to the Source
Central Bank: Without a fiscal reform, the government debt would exceed 100% of GDP in 10 years
The absence of a fiscal reform would increase the government debt to a figure that would exceed 100% of GDP in 10 years. Currently, it exceeds 50%. This is one of the estimates made by the Central Bank when analyzing the suitability of the Bill for the Strengthening of Public Finances, approved in the first […]
Alvarado wants the end of luxury pensions
On Thursday morning, the President of the Republic, Carlos Alvarado, sat down in front of the magistrates that make up the Constitutional Chamber to explain the need to “put an end to luxury pensions,” after the majority of the Full Court opposed the tax reform touching their salaries. The following are some of the phrases […]
Poverty grows and hits 21.1% of households
More than 21% of Costa Rican households live in poverty. This figure is 1.1 percentage points higher than in 2017, a variation that is statistically significant, according to the National Institute of Statistics and Census. Extreme poverty -those households whose income is not enough to cover basic food needs- stood at 6.3%, with an increase […]
The number of people in shelters increases to 1,100, confirms CNE
The number of people in shelters due to the recent heavy rains went up to 1,100, according to the National Commission of Emergencies (CNE). During the beginning of the week this number had been reduced 26 people; however, this Wednesday things changed once again. Most shelters were opened in Guanacaste, the Nicoya Peninsula, and Paradise […]
Trump threatens to close border with Mexico due to immigrant caravan
On Thursday, President Donald Trump threatened to close the US border with Mexico if Mexico does not block the flow of migrants from Central America, at a time when a caravan of thousands of Hondurans is moving north. I must, in the strongest terms, ask Mexico to stop this, and if it fails to do […]