S&P downgrades Costa Rica rating
Costa Rica received a local-currency credit rating of BB by Standard & Poor’s. The rating is two levels below investment downgrade, and down from its previous rating of BB+, according to Bloomberg.
The news agency reported the grade was a result of the country’s “limited monetary flexibility” and increases in government spending. S&P cited Costa Rica’s monetary policy, which lacks flexibility because of a “high level” of dollarization in the economy.
You may be interested
Slothy Sunday: Meet the sloth moms, released and thrivingRachael Griffiths / Toucan Rescue Ranch - September 27, 2020
This Sloth Sunday is dedicated to the released two-fingered sloth moms that have been prospering since being in Toucan Rescue Ranch’s…
Costa Rica reopens to key tourism market as it welcomes Mexican visitorsAlejandro Zúñiga - September 26, 2020
Costa Rica will open its doors to the arrival of tourists from Mexico, after considering a drop in reported Covid-19…
Costa Rica tourism: What states might be allowed next? [updated]Alejandro Zúñiga - September 26, 2020
Since September 1, Costa Rica has welcomed tourists from a growing number of U.S. states. According to Gustavo Segura, Costa…