SAN JOSE, (AFP) – Costa Rica aims to improve its deal with the International Monetary Fund (IMF) president-elect Rodrigo Chaves (pic below; AP) said on Monday, a day after his election as the Central American nation’s next president.
He was referring to the deal signed by the IMF and the outgoing government for a loan of more than USD1.7 billion. “The IMF is not a source of resources for government financing needs. We see it as an instrument to give confidence to those who have to lend us money, (as proof) that Costa Rica will be able to honour its debts,” said Chaves, a former World Bank executive for nearly 30 years.
“The Fund needs to be grateful to us for more ambitious public policy measures in terms of economic recovery and fiscal responsibility” in order to allow Costa Rica to have access to funding from other bodies, he said.
