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Economy & Business - June 2005

COSTA RICA: S&P upgrades

An international credit rating agency, Standard & Poor's, raised its rating on the country from a negative outlook to stable. The rating remains BB. S&P said that the fiscal position had improved. S&P reckons that the prospects are improving for congressional approval of the fiscal reform programme. The reforms have been before congress for over two years. If the reforms go through, the government could receive the equivalent of an extra 2% of GDP.

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