The figure would represent the country's largest fall since Costa Rica's economic crisis of the 1980s. It's a steeper decline than previously forecast and takes into account the ongoing effects of the crisis.
The presidents of nine Latin American countries teleconferenced with senior executives of the IMF, the World Bank and the IDB on Wednesday to discuss how to face the economic impact of the coronavirus.
The IMF board on Wednesday approved $504 million in emergency financing for Costa Rica to help the Central American nation deal with the economic damage inflicted by the coronavirus pandemic.
Economic authorities in Costa Rica will meet with the International Monetary Fund (IMF) and ask for a line of financing that will allow it to face the financial blow caused by the coronavirus pandemic.
An increase in transactions from businesses that exchange dollar investments into colones to pay taxes drove fluctuations in dollar prices in the past four months.
