Costa Rica passes major milestone in opening up to superyacht charters The result comes after a landmark vote 47-0 in favour of far-reaching reforms to the existing charter laws…
Following the recent sitting of the Costa Rica Legislative Assembly (Congress), Fraser, working alongside the Costa Rica Marina Association, has shared the result of a landmark vote 47-0 in favour of far-reaching reforms of the existing charter laws. The reform will allow chartered superyachts over 24m to charter legally and remain in Costa Rican water for up to one year and is the result of a longstanding collaboration between the Costa Rica Marina Association and Fraser.
The IMF approved a 36-month credit agreement for $1.778 billion dollars with Costa Rica, the entity reported Monday, which immediately released $296.5 million to stabilize the economy of the Central American country.
The money will be used to help “support Costa Rica’s recovery and stabilize its economy,” in addition to ensuring sustainable debt, the agency said in a statement issued by its Washington headquarters.
“The home-grown program supported by the IMF focuses on implementing equitable fiscal reforms to ensure debt sustainability, while protecting the most vulnerable,” the agency said.
“Looking ahead, the government’s reform agenda is designed to help promote inclusive and sustainable growth, including through innovative digitalization, climate-change mitigation and resilience building.”
Students, teachers and authorities of Costa Rica’s five state universities on Thursday protested in front of the Legislative Assembly. They argued that universities should be excluded from a bill that seeks to regulate public employment.
The university students claimed that the law project threatens the autonomy of public higher education and will affect the functioning of the institutions.
“We come to demonstrate to express our concern for the inclusion of universities in this bill,” said the rector of the National University, Francisco González.
“We believe that it is a violation of the social rule of law,” added González at the demonstration in front of the Legislative Assembly.
The Central American country's fiscal deficit reached 8.3% of GDP in 2020, the highest in the last four decades, although lower than the Central Bank's 9.2% projection.