LatinNews Daily - 27 January 2022

In brief: Costa Rica claims more fiscal deficit progress

* Costa Rica’s finance ministry has released new figures which show the country’s fiscal deficit to December 2021 was ¢2trn (US$3.13bn), representing 5.18% of GDP, the lowest of the last three years. This compares with ¢2.90trn registered at the same point in 2020, which was equivalent to 8.03% of GDP. As of December 2021, public debt was ¢27.27trn (70.37% of GDP) of which 75.14% was domestic debt and 24.86% foreign debt. The finance ministry said that these figures exceeded targets set with the International Monetary Fund (IMF), with which Costa Rica has a US$1.78bn financial arrangement which the legislature approved in July. The finance ministry also highlighted that interest payments on debt reached ¢1.90trn (4.91% of GDP) – the highest of the last 15 years.

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