HALISTER1: Costa Rica’s Finance Ministry Calls for Reform After Downgrade

Costa Rica’s Finance Ministry Calls for Reform After Downgrade

(Bloomberg) -- Deputy Finance Minister Fernando Rodriguez called on congress to approve a new tax proposal “as soon as possible” to avoid more risks after Moody’s downgraded the country.
  • Downgrade means “the country becomes more risky” and could affect exchange rate and interest rates, “making it more difficult for companies to invest,” Rodriguez said in an emailed statement
  • To keep debt-to-GDP at current 45% level tax take must be 17% of GDP over next five years, according to the statement
  • NOTE from Feb. 9: Moody’s cut Costa Rica to Ba2 w/ negative outlook NSN OL4Q9G6JIJUP
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Source: BFW (Bloomberg First Word)

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