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Costa Rica's central bank forecasts grim outlook unless fiscal plan is approved

Thursday, January 27, 2011

Unemployment, lower economic growth and loss of attractiveness for foreign investment are just some of the implications if Costa Rica continues to raise the fiscal deficit, the central bank has said.

The bank governor, Rodrigo Bolaños, said the fiscal plan presented by the Ministry of Finance is urgently needed.

Otherwise, Bolaños said, the country could even lose the investment grade Moodys gave last year.

Original source: Inside Costa Rica