Costa Rica news highlights to start your week
Happy Monday from The Tico Times! We hope you had a wonderful weekend. Here’s the news you should know as a new day starts in Costa Rica.
The Finance Ministry has offered more details on the fiscal adjustments Costa Rica will present to the International Monetary Fund (IMF). They include cutting public spending by 1.5% of GDP; new income through taxes, representing 0.8% of GDP; eliminating tax exemptions, for 0.5% of GDP; and 0.2% of GDP via “contributions from state enterprises.” More via La Nación.
In just over three months since Costa Rica passed a law punishing street sexual harassment, authorities have arrested 36 people, the equivalent of one person every three days. Four people have been sentenced. Read more.
The Legislative Assembly will go on vacation starting December 21. They will return to session on Monday, January 8.
Finance Minister Elian Villegas says Costa Rica would reduce government expenditures by 1.5% of (GDP) as part of efforts to negotiate a loan of $1.75 billion from the International Monetary Fund (IMF). Officials have not yet proposed laws to achieve this reduction. More via La Nación.
One effect of the pandemic? Cycling has gotten more popular in Costa Rica, La Nación reports. Bicycle imports to Costa Rica have increased by 11% in 2020 compared to 2019.
Monday weather forecast, per the National Meteorological Institute: Mostly stable atmospheric conditions and low rainfall are expected this Monday, a situation favored by a reduction in the humidity contained in the environment. In addition, atmospheric pressure remains at high values over the Caribbean Sea, which generates accelerated trade winds over the country, with greater perception in the Central Valley, the North Pacific and the mountainous sectors.
We’ll have more news throughout the day, so keep checking The Tico Times home page for more.
You may be interested
Read this legal breakdown of Costa Rica’s Global Income Tax projectThe Tico Times - January 26, 2021
Among the law projects comprising Costa Rica's agreement with the International Monetary Fund is the "Global Income Tax." The project,…
Pandemic caused loss of 255 million jobs worldwide in 2020Nina LARSON / AFP - January 26, 2021
The Covid-19 pandemic caused "massive damage" to employment, and recovery in 2021 will be "slow, uneven and uncertain" if policy…
Costa Rica’s coronavirus restrictions for February 2021Alejandro Zúñiga - January 26, 2021
Costa Rican authorities on Tuesday announced the country's coronavirus measures for February 2021. The vast majority of commercial establishments can…