Advanced Search

Weekly Report - 08 October 2020 (WR-20-40)

COSTA RICA: Protests push Alvarado on the ropes

President Carlos Alvarado is facing a serious challenge to his authority. On 4 October Alvarado was compelled to cede to pressure brought to bear by a protest group, Movimiento Rescate Nacional (MRN), and abandon plans to seal a US$1.75bn credit agreement with the International Monetary Fund (IMF), at least for the time being. The MRN, which has been supported by various trade unions and social organisations, began staging nationwide roadblocks on 30 September. Alvarado promised a national dialogue process but his appeal for the roadblocks to be lifted immediately has fallen on deaf ears as the MRN is suspicious of his intentions.

The catalyst for the protests was the government’s presentation on 17 September of a proposal to negotiate a US$1.75bn extended fund facility with the IMF that could be in place for the next two administrations in order to stabilise the country’s finances in the wake of the economic impact of the coronavirus (Covid-19) pandemic. The plan also included various new taxes and increases to old taxes, as well as the proposed sale of some state assets.

End of preview - This article contains approximately 973 words.

Subscribers: Log in now to read the full article

Not a Subscriber?

Choose from one of the following options