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Costa Rica proposes tax measures as part of IMF negotiations

Costa Rica's negotiations with the IMF regarding the EFF are expected to begin later this month.

Costa Rica to propose fiscal adjustments before negotiations with IMF

Costa Rica's negotiations with the IMF would begin in late September. 

Costa Rica asks IMF for assistance due to impacts of pandemic

Costa Rica requested financial assistance from the IMF for $1.75 billion.

Costa Rica temporarily withdraws 10 law projects to streamline IMF loan

The Costa Rican Presidency has withdrawn 10 law projects in an effort to streamline the path toward a $504 million loan from the International Monetary Fund. 

BCCR now predicts 5% fall in Costa Rica GDP for 2020

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.

Costa Rica expects fiscal deficit to increase to 9.7% of GDP due to pandemic

The Costa Rican government predicts a fiscal deficit of up to 9.7% of GDP as a result of falling revenues and expenses related to the COVID-19 pandemic.

IMF approves $504 million loan for Costa Rica amid 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.

Costa Rica’s economy will shrink 3.6% in 2020 due to COVID-19, according to Central Bank

Costa Rica's GDP is expected to decrease by 3.6% due to the COVID-19 pandemic.

Facing rising deficit, Costa Rican government announces fiscal consolidation plans

The Costa Rican government announced a plan that aims to consolidate finances and encourage economic growth without applying further taxes. 

Costa Rica reached in 2019 its worst fiscal deficit in decades

The figure was given despite the fact that the country adopted a tax reform at the end of 2018 that included tax increases to address the deficit.

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