off-the-wire

UPDATE 1-IMF agrees on $527 million financing to Costa Rica

Kitco Media
By Reuters
Published:
Updated:
Reuters
(Adds details, context) SAN JOSE, April 28 (Reuters) -


A technical mission from the International Monetary Fund (IMF) agreed to disburse $527 million to Costa Rica after completing the fourth review of the authorities' reform program, it said on Friday.


The decision comes as Costa Rican authorities continued to move forward with their comprehensive economic reform program, IMF said in a statement, adding the reforms aim to make the tax system more efficient, fairer and strengthen social protections.


The IMF also said that Costa Rican authorities were moving forwards with an "ambitious agenda to green the economy."


The financial institution also said it sees Costa Rica's Gross Domestic Product (GDP) growth moderating to 3.0% in 2023, after growing 4.3% last year. (Reporting by Alvaro Murillo and Diego Ore; Writing by Carolina Pulice; Editing by Isabel Woodford and Sarah Morland)

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.