Costa Rica’s new president takes workplace, vows to deal with debt

Costa Rica’s new president takes workplace, vows to deal with debt

New Costa Rican President Rodrigo Chaves vowed to alleviate the mounting debt of the nation in his inaugural deal with on Sunday.

Rodrigo Chaves is sworn in as Costa Rica’s new president throughout his inauguration ceremony on the corridor of the Legislative Assembly in San Jose, Costa Rica. (Photo: REUTERS)

New Costa Rican President Rodrigo Chaves vowed to maintain up with funds to alleviate years of mounting debt in his inaugural deal with on Sunday, the primary day of his four-year time period.

Chaves beforehand mentioned he would rework a $1.78 billion monetary help bundle from the International Monetary Fund (IMF) in a bid to consolidate funds within the nation with the heaviest debt load in Central America, at 66.5% of gross home product.

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“The country is responsible for its debts. We have never failed to pay, we will do what we have to do to honor our obligations,” Chaves mentioned in a speech after being sworn in.

About three quarters of Costa Rica’s $42.62 billion complete debt is inside whereas the remainder is exterior.

Chaves, an anti-establishment former World Bank official, received a run-off election in April with practically 53% of the vote.

Echoing his marketing campaign speeches, Chaves mentioned he may also work to cut back the price of dwelling, combat corruption and construct bridges with rival events that dominate Congress.



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