In final vote, Costa Rican lawmakers approve $1.8 bln IMF loan


By Alvaro Murillo

SAN JOSE, July 19 (Reuters) - Costa Rican lawmakers voted on Monday to approve a $1.8 billion credit line that was negotiated with the International Monetary Fund (IMF) in January, paving the way for an initial disbursement of $292 million.

A lifeline for the Central American nation, lawmakers had already approved it earlier this month in a first vote.

President Carlos Alvarado said then that it was an "indispensable basis for economic recovery".

Disbursement of the rest of the loan will depend on fiscal performance, according to the agreement.

The isthmus nation ended last year with a fiscal deficit at 8.7% of GDP and an economic contraction of 4.5% as it grappled with the fallout of the COVID-19 pandemic.

(Reporting by Alvaro Murillo in San Jose; writing by Stefanie Eschenbacher; editing by Richard Pullin)


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