Weekly Report - 22 October 2020 (WR-20-42)

COSTA RICA: Multisectoral dialogue fails to get off the ground

Days before the start of a multisectoral dialogue to discuss Costa Rica’s financial and economic future [WR-20-41], precipitated by protests over proposed talks with the International Monetary Fund (IMF) and tax rises, President Carlos Alvarado faced a major setback. Unión Costarricense de Cámaras y Asociaciones del sector Empresarial Privado (UCCAEP), the main business sector lobby, announced it would not participate. UCCAEP revealed it had struck a deal with Movimiento Rescate Nacional (MRN), the movement behind the demonstrations. This once again highlights the intensity of opposition to any proposed tax rises and the challenges facing the government in addressing the gaping hole left in public finances by the coronavirus (Covid-19) pandemic.

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