Costa Rica Central Bank Chief Warns Country May Not Meet IMF Terms For Next Loan

• Costa Rica may not be able to access a loan disbursement from the International Monetary Fund (IMF) in December after falling behind on targets agreed to in the deal. 
• Costa Rica's government reached a deal with the IMF for a $1.8Bn credit line in January, agreeing to enact policies that would serve as the basis for the loan. 
• In August, the country received its first disbursement of $297Mn after the Legislative Assembly approved the deal. 
• However, lawmakers in the opposition-controlled body have yet to pass fiscal austerity measures and new taxes proposed by the government to meet the IMF goals, with some saying that the proposals are unconstitutional. 
• Central Bank chief Rodrigo Cubero warned that Costa Rica was at risk of falling out of compliance in the deal, echoing comments from President Carlos Alvarado last week.

(Source: Reuters)