Unemployment in Costa Rica reached 20.1% from March to May 2020, marking the highest-recorded level of that economic indicator, the official statistical agency announced Thursday.
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.
Costa Rica intends to grow industrial hemp, attract wealthy retirees, and encourage the science and health technology sectors as avenues for economic recovery.
Costa Rica's economy will experience a 3.6% contraction instead of a 2.5% expansion this year as expected before the pandemic, according to the Central Bank (BCCR).
The Central Bank of Costa Rica projected a 3.6% drop in GDP this year, instead of the 2.5% growth originally anticipated, as a consequence of the pandemic.
