* Costa Rica’s 57-member unicameral legislature has approved the issuance of up to US$5bn in Eurobonds over the next three years. These are intended to cover upcoming financial obligations, such as a US$1bn debt repayment due in early 2023, and will be issued in four tranches. Finance Minister
Nogui Acosta was cited by the media as saying that they would be used to try to reduce the amount of interest being paid by the government on the country’s debt. President
Rodrigo Chaves had previously urged legislators to approve the Eurobonds in order to finance the country’s external debt, which the latest figures from the International Monetary Fund (IMF) forecast would close 2022 at 54.6% of GDP – up from 51.3% in 2021.
End of preview - This article contains approximately 124 words.
Subscribers: Log in now to read the full article
Not a Subscriber?
Choose from one of the following options