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News briefs: Costa Rica news highlights to start your Wednesday

November 24, 2020

Happy Wednesday from The Tico Times! Here’s the news you should know as a new day starts in Costa Rica.

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The Legislative Assembly approved a $250 million cut to the 2021 national budget, a move meant to help the country’s struggling finances. This is equivalent to 1.3% of the original budget, per La Nación. Despite the cuts, more than half of the finances will be obtained by taking on new debts. We’ll have more on this news later today.

The Central American Bank for Economic Integration (CABEI) approved a $500,000 donation to help Costa Rica recover from Hurricane Eta. The funds will be used to purchase food, medicine and other essential items, and to install water tanks in impacted communities. The government estimates some 325,000 people in Costa Rica were affected by Eta, which caused flooding and landslides throughout much of the national territory earlier this month.

A study financed by the Inter-American Developmental Bank (IDB) says Costa Rica would benefit financially from its decarbonization plan. The study concluded that the project would cost $37 billion over the next 30 years but create $78 billion worth of benefits. Read more here.

A law limiting the maximum commission charged on credit or debit card purchases entered force this week. The new 2.5% cap is expected to benefit small businesses, and those costs could theoretically benefit the consumer. Read more via Semanario Universidad.

Wednesday weather forecast, per the National Meteorological Institute: “During the morning Wednesday, the country will continue to be affected by cold thrust #3, which is expected to again cause rainy conditions on the Caribbean slope and the North Zone, in addition to gusts in the Central Valley and mountain ranges of the country. On the other hand, the position of the convergence zone to the south of the region will influence the weather over the Central and South Pacific, causing isolated rains and localized downpours during the afternoon and early evening, in addition to possible rainfall in the coastal parts during the morning.”

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We’ll have more news throughout the day, so keep checking The Tico Times home page for more.

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