PDF download

NotiSur PDF file 1995 right arrow Mar

Stalled World Bank Credits Threaten Costa Rica's Restructuring Program

ISSN:1060-4189
LADB Article ID: 56201
Category/Department: Costa Rica
Date: 1995-03-23
By: LADB Staff

On March 2, the World Bank rejected Costa Rican efforts to secure a US$100 million credit approved in 1993. The decision impairs efforts by President Jose Maria Figueres to tackle an economic crisis marked by a budget gap that has widened from 0.5% of GDP in 1993 to 8.2% in 1994. The funds were expected to help Costa Rica meet debt service of US$100 million on outstanding obligations to the Paris Club, and to ease the impact of an austere economic restructuring plan Figueres has been trying to get through the Legislative Assembly.

This is only an abstract of the requested article. To obtain the full text, please purchase a subscription or inquire with your institution as to its subscription to LADB.