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Weekly Report - 11 October 2018 (WR-18-40)

COSTA RICA: Fiscal reform passes first hurdle

“An important and urgent step.” This was how Costa Rica’s President Carlos Alvarado responded to the approval last week by the 57-member legislative assembly of the fiscal reform initiative proposed by his centre-left Partido Acción Ciudadana (PAC) government aimed at addressing the country’s spiralling fiscal deficit. With the approved bill now sent to the constitutional chamber (TC) and other institutions for consideration before facing a further vote in the legislature, its ratification would signal a major victory for Alvarado who took office in May.

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