Government Spending in Costa Rica Keeps GrowingTuesday, February 25, 2014 In January 2014, current account expenditure increased by almost 8% compared to January 2013, with the category of Remuneration up 11%. The monthly figures from the Central Government Revenues, Expenditures and Financing report published by the Ministry of Finance of Costa Rica, shows that the increase in total revenues in January 2014 was almost 11%, which meant a reduction in the fiscal deficit financial compared to GDP of 0.7%. CAMMB Unifies StockTuesday, July 14, 2009 The Costa Rican stock broker purchased all preferred stock from former partner CLF CRC Latin America. The company Central America Money Market (CAMMB) purchased the entire share of former partner CLF CRC Latin America, as the head office of CLF in Trinidad and Tobago was bailed out by the Trinidadian government. M&A in the Agrochemical IndustryWednesday, September 13, 2017 American Vanguard Corporation has announced the acquisition of Grupo Agricenter, dedicated to the production and commercialization of crop protection products in Central America. From a statement issued by Agricenter: Costa Rica: More Debt to Control Spending?Wednesday, July 3, 2019 Costa Rica "will strengthen its fiscal sustainability by controlling expenditure and modernizing the tax system with a $350 million loan approved by the Inter-American Development Bank (IDB)." During the controversy generated by the implementation of the fiscal reform in Costa Rica, the approval of a $350 million credit was announced to "support the country in the implementation of its fiscal reform program." Costa Rica: State Insurer Loses Market ShareFriday, August 25, 2017 For the first time since the opening of the insurance market, the National Insurance Institute has lost its dominance in the health insurance segment, which is now led by Pan American Life Insurance. The insurance company Pan American Life Insurance took 40% of the revenues generated by sales of medical insurance policies at the end of June this year. According to data from the Insurance Superintendency, Instituto Nacional de Seguros (INS) "... accounted for 38% of the business (¢16,935 million), followed by Aseguradora del Istmo (Adisa) with 6%." A New Fiscal Agenda for GuatemalaWednesday, January 20, 2016 In the opinion of the Central American Institute of Fiscal Studies, the only way to consolidate public finances in a sustainable way is to reduce tax breaks and increase tax collections. From a statement issued by the Central Institute for Fiscal Studies (Icefi): Quarterly Country Risk Report: June 2010Wednesday, July 21, 2010 Central American countries still need to improve their economic performance to reach investment grade ratings. On its Quarterly Country Risk report for June 2010, the Central American Monetary Council (SECMCA), notes that Moody’s Investor Service improved the foreign currency risk ratings for Guatemala and Nicaragua. For Guatemala, the criteria for this improvement included a stable macroeconomic environment, backed by prudent fiscal and monetary policies, and for Nicaragua improvement in debt indicators and low fiscal deficits. Plan to Prevent Tax Evasion by MultinationalsFriday, July 19, 2013 The Organization for Economic Cooperation and Development has released a plan for the design of international standards to prevent abuse of rules such as the one that lets companies avoid paying taxes in two countries. Nacion.com reports that "The secretary general of the OECD, Miguel Angel Gurría, accompanied by the G20 finance ministers, today in Moscow presented an ambitious plan to combat the shortcomings of countries tax systems and halting tax evasion by multinationals. " Costa Rica: Fiscal Deficit Threatens Economic StabilityWednesday, June 15, 2011 Stable interest rates and a downward exchange rate have characterized the economy in recent months. Although interest rates have remained low and there is still room for them to fall further, the growing fiscal deficit, which has forced the government to turn to the markets to raise funds to pay interest on the debt, is threatening this possibility. Public Debt Margin ExpandedTuesday, December 12, 2017 In Nicaragua, the Ortega administration has authorized raising the maximum limit allowed for the central government's debt to $1.170 billion. Through a decree published in the official newspaper, La Gaceta, the Executive Power has authorized raising the maximum limit of debt that the central government can take on by $60 million. Increase in Sales of Health Insurance in Costa RicaWednesday, November 5, 2014 Between January and September revenue from sales of these policies increased by 74% compared to the same period in 2013, with the sale of group insurance policies to companies being the factor driving the growth. According to data from the Superintendent of Insurance, in January-September, the sector as a whole has accumulated $116 million in premiums for such policies. Better Prospects for HondurasWednesday, October 7, 2015 The IMF highlighted the progress made in the fiscal area and projects low inflation and economic growth of 3.6% for 2016. From a press release issued by the IMF: Costa Rica: Sovereign Bond Prices DropFriday, April 11, 2014 In two days yields on external debt maturing in 2023 rose by 0.23% after the announcement of the departure of Intel and the Bank of America. In addition to increasing the perception of risk in investments in Costa Rica, Bloomberg.com reports that Citi cut its growth forecast for the Costa Rican economy in 2014, from 3.5% to 3.1% and from 4% to 2.2% for 2015. Costa Rica's Fiscal Deficit: Official Projection Falls ShortWednesday, March 27, 2013 Costa Rica could have a greater fiscal deficit than the 4.8% estimated by the Central Bank for this year, reaching 5.1% of GDP. According to the Fiscal Studies Program by the School of Economics at the National University of Costa Rica, this projection was based on total tax revenues increasing by 8.7%, taking into account a lower tax income and Customs taxes (due to a fall in imports) and also an increase in total expenditure of 11.5%. Nicaragua Concludes Fourth IMF RevisionThursday, April 8, 2010 On May, the board of the IMF could approve it and disburse $18 million, out of $35.6 pledged for 2010. Antenor Rosales, president of the Central Bank of Nicaragua, stated that the Government successfully passed the fourth revision of its macroeconomic program with the International Monetary Fund (IMF), known as Extended Credit Facility (ECF). |
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