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.”

 

You may be interested

Jean Marc Calvet, part III: Leaving Marco behind
Artists
218 views
Artists
218 views

Jean Marc Calvet, part III: Leaving Marco behind

Elizabeth Lang - May 18, 2018

This is the story of Nicaraguan-based French artist Jean Marc Calvet: a man whose complex life, obscurities and misfortunes overwhelmed…

Traditional masks
Tico Times Pic of the Day
228 views
Tico Times Pic of the Day
228 views

Traditional masks

The Tico Times - May 18, 2018

Creating masks out of balsa wood, carved by their own hands and based on the their community's traditions, the Brunca…

Through adaptive surfing, disabled athletes conquer Costa Rica’s waves
Changemakers
297 views
Changemakers
297 views

Through adaptive surfing, disabled athletes conquer Costa Rica’s waves

Ellen Zoe Golden - May 18, 2018

Part I of III. Costa Rica already maintains a stellar reputation as a surfing destination. According to Carlos Brenes of…