* Costa Rica’s 57-member unicameral national legislature has approved a US$500m loan from the Latin American Development Bank (CAF). The government, led by President
Carlos Alvarado, says that the loan, which has the main objective of supporting the country’s “
financial sustainability”, will be an “
important source” of funding to address the emergency caused by coronavirus (Covid-19). The government has previously announced a C1,000bn (US$1.78bn) protection plan (equivalent to 3% of the country’s GDP) aimed at supporting families and businesses affected by the impact of Covid-19. As well as the CAF loan, the protection plan is also to be funded by ‘solidarity contributions’ from luxury pensions (C12bn), and a C216bn loan from the Inter-American Development Bank (IDB)-French Development Agency (AFD), among other sources.
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