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Costa Rica aims to sell $500 million in bonds abroad

Monday, March 19, 2012

Costa Rica will seek to sell at least $500 million in bonds abroad this year to help sustain economic growth and improve the nation’s infrastructure.

President Laura Chinchilla’s government is requesting congressional approval for the debt sale after winning initial support in the legislature this month for the first significant overhaul of the nation’s tax laws since 1995 Approval would help Chinchilla’s government reduce its deficit to 3.3 percent of gross domestic product from about 5 percent.

Source: Bloomberg