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poverty English News Blog for  Costa Rica English News Blog December Archive 

More Poverty by Next Year

12/23/08 18:04

Costa Rican President Oscar Arias believes and foretasted poverty growth exponentially by the start of next year. On the La Nacion daily he says that it will be caused by the effects of the US recession which will mean less American tourist, investments and less demand for Costa Rican products like fruits. To counter the effects of this, he already negotiated with Inter-American Development Bank to secure a $850 million loan for public spending and capitalization for the productive sector.

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Tags: poverty • inter american development bank • oscar arias • effects of recession •
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