Weekly Report - 04 March 2021 (WR-21-09)


COSTA RICA | IMF approves EFF. The International Monetary Fund (IMF) announced its executive board has approved a US$1.78bn three-year Extended Fund Facility (EFF) financial assistance programme for Costa Rica. The Costa Rican government led by President Carlos Alvarado first requested the EFF in September 2020 to shore up Costa Rica’s public finances and to allow an increase in emergency spending to mitigate the economic impact of the coronavirus (Covid-19) pandemic. But the decision to turn to the IMF sparked nationwide protests in Costa Rica amid concerns that this would lead to tax increases.

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