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Source: International Monetary Fund

Costa Rica : Request for Purchase Under the Rapid Financing Investment-Press Release; Staff Report; and Statement by the Executive Director for Costa Rica

Author/Editor:

International Monetary Fund. Western Hemisphere Dept.

Publication Date:

May 1, 2020

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Summary:

Costa Rica has been hit hard by the Covid-19 pandemic, owing to its highly open economy that has large exposures to trade, tourism, foreign direct investment, and global supply chains. Tourism exports, which account for over 6 percent of GDP and 19 percent of exports, have collapsed with border closures, while other exports have also slowed owing to a slump in demand from trading partners. A severe local outbreak, which saw confirmed Covid-19 cases jump to 669 in just over six weeks, has led to large domestic labor restrictions, aimed at preventing a spreading of the virus, and is poised to cause additional widespread and prolonged disruptions to economic activity, balance of payments (BOP), and fiscal accounts, at a time when the fiscal space is very limited.

Series:

Country Report No. 20/145

Subject:

English

Publication Date:

May 1, 2020

ISBN/ISSN:

9781513542690/1934-7685

Stock No:

1CRIEA2020001

Format:

Paper

Pages:

36

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