The Costa Rican government needs $1.5 billion to face obligations such as the payment of bonuses, salaries, transfers and debts with the State’s creditors before the end of 2018.
The estimate was calculated by the Finance Minister herself when she was invited to Enfoques show, where she pointed out that there is little more than half of the resources that were needed. The official stressed that she feels hopeful that the debt placement contracts will allow them to obtain these resources by the end of the year.
Aguilar said that the placements made so far have been successful, despite the fact that some sectors saw them as a failure because they were less than expected. The tax authorities said they received bids for up to $600 million at the end of October, which is very positive.
The official criticized the existence of conspiracy theories that seek to avoid reality, around questions that have arisen from union sectors and opposition to the tax reform, regarding the increase of the exchange rate in recent weeks.
According to Aguilar, aspects such as the rise in the exchange rate and interest rates had already been predicted for many months.
We are not causing the crisis, there is a change in international markets that is also an important difference compared to what we lived a year ago,”
said Aguilar.
Hacienda claims not to have a Plan B in case the tax project does not move forward in the Constitutional Court.