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Desarrolladora Mexicana de Infraestructura S.A. DE C.V. (PRODEMEX), responsible for building the Cartago hospital, has withdrawn its bid.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

Latin American Players Make Early Push at Cincinnati Open

Latin American players made an immediate impact as the Cincinnati Open main draw began Thursday, with Argentina’s Mariano Navone and Thiago Agustín Tirante advancing...

Fonseca and Cerúndolo Drawn Into the Same Cincinnati Quarter

The Cincinnati Open draw placed Fonseca and Cerúndolo in the same quarter, with Sinner and Alcaraz both absent through injury.

Costa Rica Gives Final Approval to “Macho Coca” Extradition

Costa Rica has authorized the immediate extradition of Gilberth Bell Fernández, the Limón businessman known as “Macho Coca,” clearing the final judicial hurdle for...

Costa Rica Studies Monorail or Tram for Main Airport

Costa Rican transportation officials are looking for European funding to study a public transit connection between Juan Santamaría International Airport and the planned electric...

New Coral Species Found Off Costa Rica Gets a Name From Tolkien’s Elvish

A bright yellow coral found on seamounts off Costa Rica was so distinct that scientists created an entirely new family for it, then named it in Tolkien's Elvish.

Strange Balloon-Like Object Spotted Over Costa Rica

A mysterious white object seen high above several parts of Costa Rica over the weekend triggered a new round of speculation online, with residents...

Costa Rica Reopens Immigration Category for 10,000 Rejected Asylum Seekers

Costa Rica's immigration agency expects to regularize about 10,000 people under a special category reopening to applications on September 1.

Costa Rica Named Among Top Destinations for Solo Travelers

Costa Rica has been included among 25 of the world’s best destinations for people traveling alone in a 2026 selection by Travel + Leisure,...

Is Panama the New Costa Rica? A 2026 Expat & Real Estate Investor Comparison

For decades, Costa Rica was the undisputed poster child of Central American expat life. However, a quiet reshuffling of priorities is underway, and a...
🌴 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