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IMF Mission: Fiscal Measures in Costa Rica Are Insufficient, But Necessary

The International Monetary Fund (IMF), during a visit to Costa Rica from June 12 to 15, 2018, warned that although the measures announced by the authorities to confront the fiscal situation are a step in the right direction, a more comprehensive reform strategy would...

Moody’s Questions Tax Benefit Of Plan To Handle Illiquidity in Costa Rica

  According to Moody's, the plan to reduce expenses announced by President Luis Guillermo Solís will not be enough to solve the illiquidity problem being faced, nor to avoid a rise in local interest rates. The plan to cut costs that are not mandatory in the...

IMF: Time Is Running Out For Costa Rica

(Q24N) The International Monetary Fund (IMF) is once again emphasizing Costa Rica for more efficient public spending and making cuts before a fiscal adjustment comes into force, in a form that is "draconian and with emergency measures". In education alone, an area into which almost...

Corporations Tax Could Be Revived, But Not Until Spending Cuts Occur Says Opposition

(QCOSTARICA) Reviving the tax on corporations is a goal by President Luis Guillermo Solis, says La Republica, who confirms that the President wants to send a bill to the Legislative Assembly. The government wants to use the money (revenue), an estimated ¢50 billion colones, to...

Government Planning ¢61 Billion Cut

QCOSTARICA - Finance Minister Helio Fallas announced this week that the government plans to make ¢61 billion colones in spending cuts to the budget it will submit to the Legislature in the comin days. In November, the Solis Administration maneuvered through with legislative slight...

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