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LatinNews Daily - 25 June 2021

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In brief: Costa Rica announces new IDB loans

* Costa Rica’s finance minister, Elian Villegas, and Fernando Quevedo, the representative of the Inter-American Development Bank (IDB) in Costa Rica, have signed two loans for budgetary support for a total of US$500m in order to strengthen fiscal sustainability, maintain macro-economic stability, and support sustainable economic recovery in Costa Rica. One of the loans, for US$250m, will be used to address the health emergency caused by the coronavirus (Covid-19) pandemic, in terms of providing support for households and companies affected, while the other will be used to support structural reforms to improve effectiveness in the macro-fiscal institutional framework and increase efficiency of the tax system and public spending. The loans await approval by Costa Rica’s national assembly.