Costa Rica News – (Reuters) – Costa Rica’s vice president elect said on Monday his government would consider issuing another 30-year dollar-denominated sovereign bond next year for $1 billion.
Vice President-elect Helio Fallas said the country’s new government wants to cut the deficit, which the current finance minister has warned could grow to 6 percent of gross domestic product this year from 5.4 percent in 2013.
Fallas is the running mate of Luis Guillermo Solis, a center-left academic who easily won Costa Rica’s presidential election on Sunday.
Incumbent President Laura Chinchilla’s government last month placed a $1-billion 30-year bond. “Next year it will be another billion, but that is the maximum,” Fallas said.
Solis has promised not to raise taxes for two years and to focus on reducing tax evasion and waste, while clamping down on corruption. He also wants to boost spending on social programs and education. (Additional reporting by Zach Dyer; Editing by Peter Galloway)
BY ALEXANDRA ALPER, in.reuters.com