Costa Rica: $500 Million to Address Covid-19 CrisisThe Costa Rican Assembly approved in second debate a credit with the Latin American Development Bank, which will be used to assist people who lose their jobs, as well as employers and independent workers.Tuesday, March 24, 2020
The funds from the $500 million loan from the Andean Development Cooperation, which was originally planned to be used for debt repayment, will be used to finance the Costa Rican government's response to the national emergency caused by the Covid-19 virus, the Legislative Assembly reported. Source: Nacion.com Costa Rica: $300 Million More Debt to Face the CrisisJuly 2020 The Central American Bank for Economic Integration approved a line of credit for the country to reinforce its fiscal sustainability and strengthen its macroeconomic stability, in the context of the economic crisis that arose from the outbreak of covid-19. $515 Million Approved for Healthcare SystemApril 2020 The IMF approved a loan in favor of the Panamanian government, whose funds will be used to finance health expenses and support the vulnerable population affected by the covid.19 El Salvador to Issue $2 Billion in DebtMarch 2020 In order to face the health crisis, the Assembly authorized the issuance of securities for up to $2 billion, which will be issued in the national or international market. Costa Rican Government Keeps Going into DebtApril 2019 The Andean Development Corporation approved a $500 million loan to the government of Costa Rica, which will be used to "achieve fiscal sustainability in the short and medium term.”
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