LatinNews Daily - 24 July 2020

* The Central American Bank for Economic Integration (BCIE) has approved a US$300m loan for Costa Rica to mitigate the economic impact of the coronavirus (Covid-19) pandemic. According to a BCIE press release, Costa Rica is first country to receive the maximum amount of US$250m available annually for each Central American country within the Operations Development Policies programme (OPDs), the purpose of which is to support the member countries to promote policy actions and development results that contribute to balanced economic growth, poverty reduction, and sustainable development. The other US$50m is in the framework of the BCIE’s regional programme of support and preparation for tackling Covid-19 and promoting economic reactivation. On 15 July the United Nations Economic Commission for Latin America and the Caribbean (Eclac) released its latest 2020 growth forecasts, revising down its prediction for Costa Rica to -5.5%, from -3.6% in April - although this is still an improvement on the -6.2% average for Central America. 

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