External Debt in Costa Rica
Costa Rica - External Debt
The economic panorama likely remained downbeat in Q3 due to the ongoing health crisis. Economic activity contracted at a sharper pace in July–August, while the unemployment rate remained high in the same period. More positively, however, exports recovered and imports fell at a softer pace in Q3. Turning to Q4, further restrictions have been eased, with air borders reopening to all countries on 1 November—without the need for a 14-day quarantine upon arrival nor proof of a negative coronavirus test —aiming to boost tourism and employment in the sector. However, this could lead to an increase in Covid-19 cases, which continued to rise in the country through September and October. In other news, in late October, the government modified the 2021 draft budget to include a 7.5% reduction in primary spending compared to 2020, in an attempt to control public expenditure.Costa Rica - External Debt Data
| 2015 | 2016 | 2017 | 2018 | 2019 | |
|---|---|---|---|---|---|
| External Debt (% of GDP) | 43.1 | 44.7 | 46.4 | 47.9 | 49.7 |
Costa Rica External Debt Chart
Source: Costa Rica Central Bank and FocusEconomics calculations.
Costa Rica Facts
| Value | Change | Date | |
|---|---|---|---|
| Exchange Rate | 571.0 | -0.57 % | Jan 01 |
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Economic News
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Costa Rica: Economic activity swings back to growth in March
May 12, 2021
Economic activity expanded for the first time in 13 months in March, growing 3.9% in annual terms, swinging from February’s 4.5% contraction.
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Costa Rica: Inflation climbs in April
May 7, 2021
Consumer prices increased 0.29% over the previous month in April, accelerating from the 0.03% rise logged in March.
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Costa Rica: Central Bank stands pat in April meeting
April 21, 2021
At its 21 April meeting, the Central Bank of Costa Rica opted once again to maintain the monetary policy rate at its record low of 0.75%, where it has been since 17 June 2020.
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Costa Rica: Decline in economic activity softens in February
April 9, 2021
Economic activity fell 4.7% in annual terms in February (January: -4.8% yoy).
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Costa Rica: GDP further eases its contraction in Q4
March 31, 2021
The economy shrank in the final quarter of 2020, albeit at a notably more moderate pace than in the third quarter (Q4: -3.7% year-on-year; Q3: -7.0% yoy), according to rebased national accounts data, with the new base year referring to 2017 prices.
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