Costa Rica is a small, lush, rainforested country that borders the Pacific and Caribbean oceans. It is the home of the Pre-Columbian Gold Museum and is famous for its beaches, volcanoes, and flora and fauna. About a quarter of the country is protected jungle. This jungle is home to species such as the Quetzal bird and the spider monkey.
The government of Costa Rica has made some important strides in improving economic freedom. During the past five years, the economy has grown at a solid clip, and it is currently ranked in the middle of the “Moderately Free” category. However, the country still has significant challenges to overcome, and the government needs to continue with orthodox economic policies and make some difficult reforms.
The Central Bank is making efforts to reduce the costs of credit. This includes easing regulations on buybacks and restructuring loans. It has also postponed interest payments on consumer and auto loans. In addition, the Central Bank has also begun to relax rules regarding education loans and personal credit. Overall, these efforts are working to boost economic activity and reduce costs for businesses and citizens.
The overall score of Costa Rica’s economy is 67, which ranks it 49th in the world. However, the country’s score is down a point from last year, which is due to a drop in the index of labor and property rights. Despite these shortcomings, the country remains significantly freer than the global average and is 8th among 29 countries in the South and Central America/Caribbean region.