LatinNews Regional Monitor: Caribbean & Central America - 29 October 2018

* The Costa Rican–American Chamber of Commerce (AmCham) has released a statement saying that Costa Rica’s political leaders need to implement additional measures alongside the government’s proposed fiscal reform to revive the national economy. The fiscal reform plan was approved by Costa Rica’s national legislature on 5 October and is currently under scrutiny by the constitutional court. According to an AmCham research team guided by analyst Juan Carlos Hidalgo, the Costa Rican government should revise the public debt structure by focusing on spending cuts rather than tax increases to reduce the fiscal deficit. Amcham’s statement also raises concerns about the low confidence expressed by external observers about the outlook for Costa Rica’s domestic economy, which will not shift unless the government commits to supplement the fiscal reform plan with additional reforms.

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