The Electoral Observation Mission of the Organization of American States (OAS) for the National Elections of Costa Rica, led by the former Vice President of Panama Isabel de Saint Malo, congratulates the Costa Rican people after the successful election da
Costa Rica will receive a three-year, $1.78 billion loan from the International Monetary Fund as part of the financial entity’s Extended Fund Facility (EFF).
“When a country borrows from the IMF, it commits to undertake policies to overcome economic and structural problems,” the IMF says. “Under an EFF, these commitments, including specific conditions, are expected to have a strong focus on structural reforms to address institutional or economic weaknesses, in addition to policies to maintain macroeconomic stability.”
Costa Rica’s objective is to stabilize country’s public debt and reach a primary surplus of 1% by 2023.
These are the law projects Costa Rica has agreed to as part of its IMF deal:
The Executive Branch summed 36 bills to the floor of the Legislative Assembly for debate, including three that relate to Costa Rica's negotiations with the International Monetary Fund (IMF).
The Executive Branch summed 36 bills to the floor of the Legislative Assembly for debate, including three that relate to Costa Rica’s negotiations with the International Monetary Fund (IMF).
The 36 bills “focus on contributing to the national effort for the economic reactivation, territorial or local development and macroeconomic stability of the country,” according to a statement from Casa Presidencial.
The three initiatives that were part of the dialogue with the IMF and will be presented to the Legislative Assembly for debate are as follows:
File N ° 22,382: Tax on luxury properties for residential, occasional or recreational use.
File No. 22,383: Global Dual Income.