The Costa Rican Presidency has withdrawn 10 law projects in an effort to streamline the path toward a $504 million loan from the International Monetary Fund.
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 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.
