External Debt in Costa Rica
Costa Rica - External Debt
Annual economic growth fell to a near one-decade low in the second quarter, as fixed investment shrank at the sharpest pace in two-and-a-half years amid business confidence slumping to the lowest level in eight-and-a-half years. Moreover, private consumption slowed, likely on an increase in the unemployment rate in the quarter, while government spending and export growth also moderated. On a brighter note, the economy is expected to have accelerated in the third quarter, as private consumption and fixed investment should have benefited from the Central Bank’s interest rate cuts. However, this acceleration is likely to have been modest given that both business and consumer confidence sank in the quarter; economic activity data for July hints at this dynamic, with annual growth accelerating slightly from June but remaining depressed nonetheless.Costa Rica - External Debt Data
| 2013 | 2014 | 2015 | 2016 | 2017 | |
|---|---|---|---|---|---|
| External Debt (% of GDP) | 39.3 | 42.6 | 43.1 | 44.7 | 46.8 |
Costa Rica External Debt Chart
Source: Costa Rica Central Bank and FocusEconomics calculations.
Costa Rica Facts
| Value | Change | Date | |
|---|---|---|---|
| Exchange Rate | 576.5 | -0.57 % | Sep 04 |
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Economic News
Costa Rica: Central Bank again cuts rates in September
September 18, 2019
At its 18 September monetary policy meeting, the Central Bank of Costa Rica took market analysts by surprise and cut the policy interest rate to 3.75% from 4.00%.
Costa Rica: The economy accelerates in July
September 11, 2019
Annual economic growth in cyclically-adjusted terms accelerated to 1.5% in July from June’s revised 1.3% (previously reported: +1.5% year-on-year), nevertheless, economic activity remained subdued by historical standards. Although economic growth ticked up in July, partly on strong activity growth in the ICT sector, it was still hampered by a continued decline in activity in the agriculture sector, which is struggling following a prolonged spell of dry weather, partly due to the El Niño effect.
Costa Rica: Government proposes tightening the belt in 2020
September 9, 2019
On 30 August, the fiscally-strained government of Costa Rica presented to Congress its 2020 budget proposal, which outlines cutting spending by 4.3% compared to this year.
Costa Rica: Inflation holds steady in August, while the Central Bank leaves rates unchanged on 21 August
September 6, 2019
Consumer prices fell 0.1% in August compared to the previous month, contrasting the 0.7% jump in July, which was a three-and-a-half year high and due to the introduction of an expanded VAT in the month.
Costa Rica: The economy remains sluggish in June
August 9, 2019
Annual economic growth in cyclically-adjusted terms inched up to 1.5% in June from May’s revised 1.4% (previously reported: +1.3% year-on-year), which represented the weakest reading since December 2009. Growth remained historically subdued in June due to a continued decline in activity in the agriculture sector, which is struggling following a prolonged spell of dry weather, partly due to the El Niño effect.
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