No menu items!

COSTA RICA'S LEADING ENGLISH LANGUAGE NEWSPAPER

HomeTopicsHealthCosta Rica's Monetary Policy Jeopardizes Crucial Hospital Construction

Costa Rica’s Monetary Policy Jeopardizes Crucial Hospital Construction

The government’s monetary policy has significantly impacted various sectors of the country. In this context, the Costa Rican Social Security Fund (CCSS) announced that the Mexican company Promotora y Desarrolladora Mexicana de Infraestructura S.A. DE C.V. (PRODEMEX), responsible for building the Cartago hospital, has withdrawn its bid.

PRODEMEX cited the country’s macroeconomic situation as a primary reason for exiting the project. The company emphasized the appreciation of the Costa Rican colón and its effects on the project’s viability. According to PRODEMEX, the economic outlook has changed considerably since they initially submitted their bid to build the hospital.

“It is evident that a project of this magnitude can only be successfully executed and completed with the commitment and support of all stakeholders involved, in accordance with the applicable legal framework,” PRODEMEX stated.

Moreover, the appreciation of the colón has affected the economic feasibility of the project, as the contract did not include adjustment mechanisms for such fluctuations.

PRODEMEX also highlighted the country’s political situation as another reason for withdrawing its offer. They pointed to the disagreements between the CCSS and the Ministry of Health, which have generated uncertainty, particularly following a Ministry of Health resolution in May 2023 that deemed the land “unsuitable” for hospital construction.

“The political uncertainty surrounding the project, and the lack of assurance regarding its execution as originally planned, constitutes a true fortuitous event (act of the prince), justifying our withdrawal and exempting us from liability,” the company added.

The hospital project was awarded after a thorough analysis of bids from four companies by the Infrastructure and Technology Department of the CCSS. PRODEMEX received the highest score, with 98.22%, followed by Compañía Constructora Van Der Laat y Jiménez, S.A., with 83.01%, Consorcio Edica HMPJ with 79.90%, and Consorcio Edificar-Estructuras 2022 with 74.09%.

Congresswoman Jhoanna Obando presented several motions on Thursday before the Cartago Commission, calling for a hearing with representatives from PRODEMEX, the Ministry of Health, and the CCSS, following the company’s resignation.

Unfortunately, due to government’s decisions and the disputes between officials, the people of Cartago will face further delays in the construction of a much-needed hospital.

Trending Now

Whale Watching Season Returns to Costa Rica’s Golfo Dulce

Humpback whales are back in Costa Rica's South Pacific, and if you want to see them, the next four months are your window. Whales...

Panama Named the World’s Best Country for Expats for a Third Straight Year

Panama has been ranked the best country in the world for people living abroad for the third consecutive year, according to the Expat Insider...

What the Judicial Coup Fight in Costa Rica is Actually About

President Fernández accused four justices of the Constitutional Chamber of staging a coup d'état on Friday and announced that the governing-party legislative bench will...

Costa Rica Suspends Florencio del Castillo Toll Due To Romería

Those brave enough to drive towards Cartago during Costa Rica’s annual Romería will receive a temporary break from toll payments on the Florencio del...

João Fonseca Heads to Cincinnati With Expectations Rising

João Fonseca will arrive at the 2026 Cincinnati Open carrying something heavier than the enthusiasm that followed him onto the same courts last year:...

Costa Rica Wins Its First Surfing Gold Medal in Regional Games History

Costa Rican surfer Rachel Agüero Cabezas won the women's shortboard title at the Central American and Caribbean Games in the Dominican Republic tpday, delivering...

Costa Rica Tourism Faces Pressure After Visitor Arrivals Fall in June

Costa Rica’s tourism industry is preparing for a more difficult second half of 2026 after international arrivals by air declined in June, ending eight...

Costa Rica’s Alondra Ortiz Wins Gold in 200-Meter Butterfly

Costa Rican swimmer Alondra Ortiz won the women’s 200-meter butterfly at the 2026 Central American and Caribbean Games, delivering the first swimming gold medal...

FIFA’s Plan to Sell World Cup Stakes Lands on Costa Rica’s Desk

Costa Rica's football federation has aligned itself with regional pushback against FIFA's plan to bring private investors into the ownership of its commercial operations,...
🌴 The Weekly Pura Vida

Costa Rica, Once a Week

The week's top stories, weather & insider tips — delivered every Sunday. One email, zero clutter.

🔒 Free. No spam. Unsubscribe anytime.

Loading…

Latest News from Costa Rica

Costa Rica Coffee Maker Chorreador
Costa Rica Car Rentals
Costa Rica Travel Insurance
Costa Rica Travel