Costa Rica’s government pays off Caja debt

September 20, 2011

As of Tuesday, the Costa Rican government’s debt to the Social Security System (Caja) has been paid off. The National Treasurer’s Office of the Finance Ministry handed over ¢16.2 billion ($32 million) of internal debt to the Caja.

This was the last payment by the government to pay the Caja the ¢85 billion ($167 million) owed to the system. The first payment took place on Aug. 13 for ¢54 billion ($106 million). Six days later the government paid an additional ¢15 billion ($29.4 million).

“We achieved our promise with the Caja. We reaffirmed our interest to overcome the financial difficulties that the Caja is facing,” said Finance Minister Fernando Herrero in a ministry press release.

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