Tuesday, 20 October 2020
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This is how the tax on ATM transactions would work

(QCOSTARICA) Costa Rica president Carlos Alvarado on Thursday outlined the proposed new taxes that would be imposed in order to obtain a US$2.25 billion dollar loan from the International Monetary Fund (IMF). In addition, there is an increase in income tax for monthly earnings of...

Costa Rica at the gates of a tax on banking transactions

(QCOSTARICA) The economic stability proposal that the Government will present to the International Monetary Fund (IMF), to obtain financing of about USs$2.25 billion dollars, contemplates the introduction of four taxes in order to increase the income of the public sector. The first of the new...

Reversing public debt of 80% of GDP would take up to 10 years

(QCOSTARICA) It could take up to 10 years to considerably reduce Costa Rica's public debt, after it takes a gigantic step and reaches 80% of gross domestic product (GDP) by the end of 2021, according to estimates by the Ministry of Finance. Economists Olman Segura,...

IMF: Latin America Will Suffer Worst Economic Crisis in Its History

(QREPORTS) The International Monetary Fund (IMF) has lowered its growth prospects for Latin America and the Caribbean by predicting that economic activity will fall by 9.4% this year due to the impact of the coronavirus pandemic. To help these governments, the IMF approved an additional...

IMF: Costa Rican Economy Still Underdeveloped

After the slowdown in growth between 2017 and early 2019, the Costa Rica economy has recovered since mid-2019, as a result of a rebound in services, agriculture, and manufacturing, which produced an estimated 2.1% growth in 2019, reported the International Monetary Fund (IMF). "Growth remains...

IMF Recommends Costa Rica Increase Taxes

The International Monetary Fund (IMF) - Fondo Monetario Internacional (FMI) in Spanish - recommends the government of Costa Rica increase taxes.

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...

Nobody is going to bail out Venezuela

Venezuela, the South American country convulsed by economic and humanitarian catastrophe, has defaulted on some of its debt after missing an interest payment due in October. A follower of President Nicolas Maduro runs past a line of soldiers in Caracas, Venezuela, Saturday, Aug. 26, 2017....

Costa Rica Urged To Adopt VAT (Value Added Tax)

Q COSTA RICA NEWS - The International Monetary Fund (IMF) has urged Costa Rican lawmakers to agree on much-needed valued added tax (VAT) that would replace the current sales tax on purchases and income tax reforms. The report said that the country has increased its...

IMF Mission Concludes Visit to Costa Rica: “Unsustainable Fiscal Imbalance”

Q COSTA RICA NEWS - The favourable conditions in the global economy allowed Costa Rica's economy to an expected growth of 4.25% in 2016, but more needs to be done to stabilize public debt levels and key is for the government and legislature to...

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