More

    Costa Rica’s International Credit Rating Takes a Hit With a Downgrade From Moody’s

    Must Read

    TCRN STAFFhttps://www.TheCostaRicaNews.com
    Creating a Conscious alternative news network that we feel the world needs. Pura Vida!

    The Costa Rica News (TCRN) – The rating agency Moody ‘s Investors Service has downgraded the bond rating of the Costa Rica government from Ba1 to Baa3, as published in Bloomberg , which says that “the credit rating of Costa Rica was reduced to junk” due to a weak institution and growth in both the fiscal deficit and public debt.

    The projection of the fiscal deficit has averaged 4.5% of Gross Domestic Product (GDP) since 2009, largely driven by growth in spending and is expected to reach 5.8% of GDP by the end of 2014 and 6% next year, which was regarded by the company as a lack of action.

    TIP: Get our latest content by joining our newsletter. Don't miss out on news that matter in Costa Rica. Click here.

    Before, the outlook on the Ba1 rating of government bonds to Costa Rica indicated stable rating changes are unlikely in the next 12-18 months.

    Melvin Garita, an economist, said, “The implication that this has on the economy is that the issue of Eurobonds that the government should place the next year will cost even more in 2015 and that puts pressure on the medium-term interest rates.”

    The Costa Rica News (TCRN)

    San Jose, Costa Rica

    LIKE THIS ARTICLE? Sign up to our newsletter and we will send you updates of our latest content as soon as they are available. Click here.

    - Advertisement -
    - Advertisement -

    Latest News

    More than 48 Thousand People have Entered Panama Through the Darién Jungle this Year

    Thousands of migrants cross Central America and part of South and North America, in search of obtaining a stable economic condition and better living conditions in their final destination
    - Advertisement -

    More Articles Like This

    - Advertisement -
    Language »
    Be Part of the Community!
    Stay Up To Date And Connected

    and engage with likeminded folks on Costa Rica

     

    13 Years Changing The Way You Look At News!

    Get TCRN In Your Inbox & Never Miss Any News That Matter In Costa Rica!