José Francisco Pacheco, vice minister of expenses from the Ministry of Finance, announced the need of new external financing to grant the economy stability.
However, economists foresee difficulties to achieve that. Alberto Franco, an economist, expressed that there is little time until the end of 2016 and he assures that the international agencies conditions to provide financial support won’t be met.
On the other hand, economist Edna Camacho thinks there is always the chance that “someone” lends money regardless of the risk. However, that could lead to a higher interest rate to pay.
According to economist José Joaquín Fernández, those new loans are perceived as condescension that will affect the natural economy development and would delay urgent economic measures such as the closure of any public institution that does not have any social function.
Among the institutions named by Fernández there are: the Costa Rican Tourism Institute, the Institute of Municipal Development and Assistance (IFAM), the Institute for Cooperative Development (INFOCOOP), the National System of Radio and Television (SINART), the Ministry of Science and Technology, the Central Bank of Costa Rica and the Council of National Roads (CONAVI).