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Weekly Report - 24 September 2020 (WR-20-38)
COSTA RICA: Déjà-vu as Alvarado unveils proposal for further tax rises
President Carlos Alvarado last week unveiled the proposal by his centre-left Partido Acción Ciudadana (PAC) government to kick off negotiations for a three-year US$1.75bn financial assistance programme with the International Monetary Fund (IMF). Alvarado has underlined the need for the assistance given the dire situation facing Costa Rica’s public finances due to the coronavirus (Covid-19) pandemic. However, the proposed tax rises have predictably met with rejection from opposition parties which control the 57-member unicameral legislature as well as trade unions. This suggests a rerun of the battle which ensued over Alvarado’s (ultimately successful) efforts to get a much-needed fiscal reform approved in 2018.
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