Costa Rica: An ambitious fiscal proposal

CENTRAL AMERICA - Report 18 Sep 2020 by Francisco de Paula Gutiérrez and Felix Delgado

The government announced an ambitious proposal to achieve an extended facility agreement with the IMF in order to bring back the debt to a sustainable path. The proposal, which includes the effects of the fiscal reform approved in December 2018, consists of a mix of temporary and permanent actions on the revenue and expenditure fronts. The proposal is expected to generate a yearly average of 6% of GDP in its first four years, contributing to a reduction of the debt-to-GDP ratio.

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