The stock information platform Bloomberg alerted on Wednesday about Costa Rica’s financing problems.
According to the site, the demand for debt swaps, in which it managed to extend indebtedness by ¢ 400,000 million, was below expected and the offer of placement contracts had a low participation.
It means that Costa Rica is having financing problems,”
the publication said, based on an interview with Moody’s analyst Gabriel Torres. Bloomberg noted that debt swaps helped eliminate payments for 2019 and 2020, but not for the rest of 2018.
According to the information on this platform, the sale of domestic debt aimed at attracting foreign investors received bids for $200 million, a figure well below the government’s target, which was between $500 million and $800 million.
On this placement, the National Treasury, attached to the Ministry of Finance, has said that it cannot deliver information until the allocation process has been completed, which lasts several weeks.
The analyst reiterated that the country could face a downgrade if the tax reform is not approved and that, on the contrary, the approval of the fiscal reform would provide a “breathing space” and give the government access to multilateral loans.