Ottón’s exit from the OECD would clear credit approval with IMF

The issue will be discussed at the meeting of the fraction leaders this Thursday (CRH Archive)

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(CRHoy.com) The debt of $ 1,778 million with the International Monetary Fund (IMF), for which the government of Citizen Action (PAC) has pressured the deputies, could see its final approval in Congress cleared in a matter of hours or but of days.

With the forced resignation of Ottón Solís Fallas as the first Costa Rican ambassador to the Organization for Economic Cooperation and Development (OECD), the deputies could be willing to vote this credit, whose resources will be used 90% for the payment of the debt and the remaining 10% for the financial strengthening of the Costa Rican Social Security Fund (CCSS).

The president of the Legislative Assembly, the liberationist Silvia Hernández, said that this Thursday at the weekly meeting of the fraction leaders it will be agreed to put the loan on the agenda.

Thus, the credit could be voted in the best scenario this afternoon or if not next week. In the discussion on the merits in the second and last debate, each of the 57 congressmen can refer to the project for a period of 10 minutes each.

“Ottón Solís takes the President and the Government out of an unnecessary mess. True to his style, Don Ottón insults himself. That sad style would have been exposed to us in the OECD, Costa Rica was saved! As for the agenda, tomorrow – this Thursday – the dates will be seen, “Hernández said about Solís’ departure and the rearrangement of the agenda.

On Monday and Tuesday the opposition approved postponement motions, with which they can define the list of projects to be discussed in the sessions. On both days the credit with the IMF was left out in protest at Alvarado’s attempt to send Solís to Paris.

Opposition celebrated departure from Solís

After the resignation of Ottón Solís, the deputies claimed a victory over the ruling party.

“This resignation shows us that the Legislative Assembly and its deputies when we become the Republic’s north we can build a better country away from ideologies and personal issues. Democracy has marked one more triumph in getting the organism’s detractor – the OECD – to resign “said New Republic chief Jonathan Prendas.

Pablo Heriberto Abarca, head of the Christian Social Unity, joined the celebration for the resignation of Solís and said that This should teach the Executive that it requires more dialogue with the opposition.

“I celebrate the sensible decision of Mr. Ottón Solís and I hope this is an example for the government to understand that more dialogue is needed, not to blow up bridges, to understand that the productive sector needs support and not only the whims of Zapote, to understand that this Assembly and this opposition is willing to collaborate, to the extent that we can support everyone and not the whims of a few, “said Abarca.

Eduardo Cruickshank, head of National Restoration, said the resignation was necessary, but called it “late.”

“I would hope that for the next appointment, the Governing Council will adhere in all its extremes to the legal framework that governs the matter of electing the representative to the OECD,” he said.

“President Alvarado and Ottón Solís had to, under pressure, swallow their pride.”, Said the liberationist Franggi Nicolás, who urged the Executive not to return Solís as a representative before the Central American Bank for Economic Integration (CABEI), from where I quit.

Millionaire credit

CRH Archive / Agency

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This credit with the IMF was approved by the Fund’s Executive Board on March 1, following an Expanded Service Facility (SAF) agreement. On April 6, he entered the Tax Commission, where he was ruled on April 28. The first debate was on July 1.

The interest rate at the time of its signing would be 2,050% for a 10-year term, with a 4-year grace period. According to the Ministry of Finance, this would be cheaper than obtaining resources in the local market.

The president of the Central Bank of Costa Rica (BCCR), Rodrigo Cubero, said that the IMF would make the first disbursement of this loan in the first days of July, if the approval of the project in Congress advances. This first tract would be between $ 290 million or $ 300 million.

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