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Costa Rica aims to prop up its shaky finances

Friday, August 24, 2018

Legislators in Costa Rica are now considering a fiscal plan, but there appears to be in no hurry to approve it.

The challenge facing the country is that, unless its finances are overhauled, the government will be unable to meet its obligations. That would mean no wages for government employees or payments for pending debt.

In recent years, the government has built up to a debt worth 50 percent of GDP, largely because of a growth in spending.