Costa Rica's debt-to-GDP on unsustainable rise: IMF
Thursday, February 05 2015 @ 08:00 AM AST
Contributed by: elijose
Gato do mato! Jaguatirica, Photo by Ana Cotta, Flickr
Costa Rica bounced back quickly from the 2008–09 global crisis, but growth now on a declining trend, IMF says in statement. IMF estimates 3.4% growth in 2015, down from 3.6% in 2014.
Outlook for 2015 and beyond remains subdued amid deteriorating fundamentals: IMF
IMF sees fiscal consolidation of 2.2% of GDP over medium term; central government fiscal deficit of about 5.75% of GDP; and public debt ratio of 51% of GDP by 2019
Inflation to hover around 4%; current account deficit to rise to 5.25% of GDP by 2019.