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LatinNews Daily - 02 December 2020

In brief: CAF approves new funds for Costa Rica to tackle pandemic

* The Development Bank of Latin America (CAF) has approved a US$500m loan for Costa Rica to address the impact of the coronavirus (Covid-19) pandemic. CAF executive president Luis Carranza Ugarte said the funds would be used to tackle the economic and social impact of the pandemic. In its latest forecast issued this month, the Organisation for Economic Co-operation and Development (OECD) expects Costa Rica’s GDP to contract 5.6% in 2020 and the unemployment rate to reach 19.9% this year.

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