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    Costa Rica Monitors the Situation in Ukraine Due To the Socioeconomic Impacts

    The Costa Rican authorities indicated that the objective of the team is to address or mitigate possible economic impacts

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    The President of Costa Rica, Carlos Alvarado, reported this past Saturday that the country is actively monitoring the situation generated by Russia’s attack against Ukraine in order to monitor the incidents that may be generated in terms of socio-economic impact in the country.

    On the instructions of the president, the Government installed an inter-institutional team with the aim of following up on events and allowing timely decision-making based on technical criteria.

    “I have ordered the creation of an inter-institutional team that constantly monitors the events following the attack by the Russian Federation on Ukraine, and its possible socioeconomic consequences for Costa Rica,” Alvarado wrote on his social networks.

    The Costa Rican authorities indicated that the objective of the team is to address or mitigate possible economic impacts, logistics costs or the supply of inputs, as well as possible pressures on the prices of raw materials and other aspects.

    Follow-up mechanisms

    These follow-up mechanisms are usual in situations of this importance, explained the Government. In this line, last Friday the country carried out the first act, with the presentation of a bill to freeze for one year the application of the update mechanism of the specific tax on fuels.

    “The group is made up of the economic team of the Ministry of Foreign Affairs and the Presidency (…) This constant monitoring and evaluation of actions is part of the usual response mechanisms,” said the president.

    Last Thursday the Government of Costa Rica condemned the violation of the sovereignty and territorial integrity of Ukraine due to the military offensive deployed by Russia and asked for peace to resolve the matter.

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