The Central American Bank for Economic Integration approved a $24 million extension of an existing line of credit, funds that will be invested in the implementation of sustainable production models and forest management and reforestation.
Costa Rica: IMF Endorses $1.778 Billion Loan
The financial resources that the IMF will lend to the Costa Rican government will be used to mitigate the fiscal crisis, strengthen monetary and financial stability, and boost economic recovery in the context of the pandemic crisis.
Tuesday, March 2, 2021 On March 1, the Executive Board of the International Monetary Fund (IMF) approved Costa Rica s request for an IMF Extended Fund Facility (EFF). This is a financial support program for three years, for an amount of approximately $1,778 million, at the current exchange rate, and which supports the policies proposed by the country s authorities to achieve fiscal sustainability, strengthen monetary and financial stability and boost economic recovery in the context of the crisis caused by the pandemic, informed the Central Bank of Costa Rica (BCCR).
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