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According to La Nacion.
Standard & Poor’s maintains the credit rating of the long-term debt of Costa Rica, but warned that the absence of adjustments that enable the country to an improvement in the fiscal area could degrade the notes in the future.According to the agency, despite the approach of reform, political disagreements about tax adjustments limit the options of fiscal consolidation and weaker governing, which could result in an obstruction of economic performance.
The rating agency also noted that the growing fiscal deficit could reach the equivalent of 5.2% of gross domestic product (GDP) this year, a figure consistent with the forecast of 5.5% announced by the Central Bank in its macroeconomic program .
S & P maintained its long-term sovereign rating of BB for Costa Rica’s foreign currency. However, in the case of local currency (colones), the evaluating firm changed its rating to BB from BB +, but noted that it is not a reduction but an adjustment for changes in methodology.
Economist Alberto Trejos said that “the permanence of the sovereign rating of BB is positive, given the international environment and internal complications affecting the country. However, Costa Rica must be vigilant and we must decide in what direction to take the country.”
Rodrigo Bolanos, president of the Central Bank, said that with the rating agency confirmed the proper growth of the economy, but said that is subject to the risks of a fiscal deficit.
Juan Carlos Pacheco, the Deputy Minister of Finance, said that the S & P adjustment provides an opportunity for the country to solve the fiscal problem, giving the benefit of the doubt that reducing the deficit will be achieved over the coming years.
One has to truly wonder how real any of these studies or if these ratings actually mean anything except what we perceive.
what is reality and truth anyway???
are these guidelines supposed to be just what thet are guidelines???
do they truly represent any actual “Truth” or are these numbers influenced anyway to benefit certain entities
just a recent article was claiming that the ICT’s tourism growth number were waaaay off and misleading to the actual numbers clmaining by actual tourism operators
so who would you believe
the agency whose job looks good to reflect and justify the gross dollars wasted on silly advertising??
like that stupid sloth promo.. :D:D:D
or the actual small business owners at the street level????
me personally I would believe the small business operator before I believe anything any agencies say.
It’s funny… how many agencies government and private that are mostly from the United States
remember the nobel peace prize mr obama won :D:D:D:D:D
[quote=”crhomebuilder”]According to La Nacion.
Standard & Poor’s maintains the credit rating of the long-term debt of Costa Rica, but warned that the absence of adjustments that enable the country to an improvement in the fiscal area could degrade the notes in the future.According to the agency, despite the approach of reform, political disagreements about tax adjustments limit the options of fiscal consolidation and weaker governing, which could result in an obstruction of economic performance.
The rating agency also noted that the growing fiscal deficit could reach the equivalent of 5.2% of gross domestic product (GDP) this year, a figure consistent with the forecast of 5.5% announced by the Central Bank in its macroeconomic program .
S & P maintained its long-term sovereign rating of BB for Costa Rica’s foreign currency. However, in the case of local currency (colones), the evaluating firm changed its rating to BB from BB +, but noted that it is not a reduction but an adjustment for changes in methodology.
Economist Alberto Trejos said that “the permanence of the sovereign rating of BB is positive, given the international environment and internal complications affecting the country. However, Costa Rica must be vigilant and we must decide in what direction to take the country.”
Rodrigo Bolanos, president of the Central Bank, said that with the rating agency confirmed the proper growth of the economy, but said that is subject to the risks of a fiscal deficit.
Juan Carlos Pacheco, the Deputy Minister of Finance, said that the S & P adjustment provides an opportunity for the country to solve the fiscal problem, giving the benefit of the doubt that reducing the deficit will be achieved over the coming years.
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