Moody’s Improves Country’s Ranking

July 7, 2006

Investing in Costa Rica is getting safer, according to Moody’s Investors Service, which last week raised the country’s rating from negative to stable.

Local and foreign-currency government bonds now have a “Ba1” rating from the international investment rating service, according to the daily La Nación.

The company’s action is based on Costa Rica’s improved fiscal situation and spending restrictions, the daily reported. This improved position, combined with strong economic growth, will help reduce levels of public dept,Moody’s said.

Finance Minister Guillermo Zúñiga told La Nación the improved rating redoubles the importance of approving fiscal reform and the Central American Free-Trade Agreement with the United States (CAFTA).

Gerardo Corrales, general manager of BAC San José bank, told the daily that the improved rating reflects the greater political stability and economy in the country.

“Passing from negative to stable will make the clouds clear up. Investors will have a panorama that is more clear, and decide to invest in the country.”

 

Facebook Comments

You may be interested

Lifeguards call for help in Costa Rica: support their work in Osa
Changemakers
800 views
Changemakers
800 views

Lifeguards call for help in Costa Rica: support their work in Osa

Perry Gladstone - October 20, 2018

Over the last four years, the Lifeguards of Costa Ballena have performed 240 in-water rescues, administered first aid 100 times…

Costa Rica Rocks: An evening of progressive metal at Jazz Café
Arts and Culture
431 views
Arts and Culture
431 views

Costa Rica Rocks: An evening of progressive metal at Jazz Café

Eduardo Doryan - October 20, 2018

So there I was, at the fabled Melico Salazar Theater, about to experience the pleasure of seeing the Costa Rican…

PeaceJam to host first Youth Summit in Costa Rica
Peace Talks
788 views
Peace Talks
788 views

PeaceJam to host first Youth Summit in Costa Rica

Alejandro Zúñiga - October 19, 2018

Nobel Peace Laureate Jody Williams will headline the first PeaceJam Youth Summit in Costa Rica next month. The event, scheduled…