End of preview - This article contains approximately 123 words.
Subscribers: Log in now to read the full article
Not a Subscriber?
Choose from one of the following options
Back
LatinNews Daily - 28 August 2020
In brief: Costa Rica’s Alvarado hails approval of IMF loan
* Costa Rica’s President Carlos Alvarado has welcomed the approval by the country’s congress of a US$504m loan in emergency financial assistance from the International Monetary Fund (IMF) under its Rapid Financing Instrument (RFI), to support coronavirus (Covid-19) related health spending. According to the IMF, these funds will help Costa Rica meet the urgent balance of payments needs stemming from the pandemic. According to Alvarado, the loan will permit Costa Rica to save some US$50,000 on a daily basis, by exchanging expensive debt for cheaper debt, while US$50m will go on strengthening the national social security institute (CCSS). Last month, Alvarado revealed plans to begin discussing a new Stand-By Arrangement (SBA) with the IMF, in order to secure further financing.
- COLOMBIA: Prosecutor general appointment sparks neutrality concerns
- In brief: Peru revises down economic forecasts
- BRAZIL: Violence flares up in Rio de Janeiro
- In brief: Brazil’s central bank to help ease public debt
- PANAMA: Unions file constitutional claim against new labour legislation
- In brief: Costa Rica’s Alvarado hails approval of IMF loan
- MEXICO: López Obrador threatens Ahmsa
- In brief: Mexico’s central bank issues public policy warning
- CHILE: Lorry drivers block roads, demand more security
- In brief: New inflation target range announced in Uruguay
- Publishing note