Arias To Announce Economic Plan
Tonight
Costa Rican president, Oscar
Arias, is expected to announce his economic plan to face the world
financial crisis tonight.
The president, at 6pm, flanked his ministers and presidents of state
institutions, will be speaking from the Fundación Omar Dengo to
detail his economic plan called “Plan de protección y estímulo
social y económico para los costarricenses” (Plan to protect and
encourage social and economic challenge for the Costa Ricans).
The ministro de la Presidencia and brother to Don Oscar, Rodrigo
Arias, said the president has been meeting all week with business
leaders, legislators, as well as union leaders and state bank
officials to fine tune his proposal.
Although we have to wait for the president's announcement tonight,
the financial package is expected to focus on those families who
have lost their jobs and source of income.
The Costa Rican economy, notwithstanding the recession in the United
States and many other countries, is expected to see a 2.2% growth
this year.
Mayi Antillón, who in the last few weeks took over the post of
ministra de Comunicación (communications minister), said that the
president and his brother have been busy during the past week to
talk to many of the people who influence the economy, discussing the
various alternatives and measures that the government can adopt to
face the financial crisis.
The minister added that the process is very "dynamic" and that the
government continues to listen to the suggestions that could be good
for the country.
The government already has taken several steps to keep the economy
moving, one was the capitalization of state banks with an inject of
us$117.5 million dollars for loans to small and medium producers.
One thing for sure that Arias will not announce tonight is an
"unemployment subsidy", said Antillón, explaining that the country
does not have the infrastructure to do so, notwithstanding that
there are public institutions that offer social help.
Another item that the government can't touch is the interest rates.
The Central Bank this week raised interest rates and according to
Antillón, the government cannot change the rates due to the autonomy
the state banks have.
"All the measures that can help Costa Rica to have an economic
situation that stimulates employment will be explained by the
president", said Antillón.
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