IMF issues very positive report on Costa Rica Economy

Statement by IMF Deputy Managing Director Naoyuki Shinohara at the Conclusion of His Visit to Costa Rica
Press Release No. 13/67 March 7, 2013

Mr. Naoyuki Shinohara, Deputy Managing Director of the International Monetary Fund (IMF), made the following statement today in San José:

“It is a great pleasure to be in Costa Rica for my first visit to this nation of such natural beauty and rich culture. I had the privilege to meet President Laura Chinchilla, and had very productive meetings with Second Vice president Luis Liberman, Finance Minister Edgar Ayales and Central Bank President Rodrigo Bolaños. I also had the opportunity to meet several members of Congress and the Executive Secretary of the Central American Monetary Council. I would like to express my gratitude to the Costa Rican authorities for their warm welcome.

“Costa Rica is a beacon of political stability and social inclusion. The country’s high percapita income and impressive social indicators attest to its accomplishments in fostering strong and inclusive economic growth. Costa Rica’s resilience in the aftermath of the global financial crisis of 2008-09 also was an important achievement. Economic growth has rebounded strongly and is projected to continue, while inflation has fallen to the lowest level in many years.

“The authorities’ commitment to prudent macroeconomic policies is encouraging. The fiscal deficit remains high but the efforts at containing spending in the last two years despite the setback on the tax reform front have prevented a further deterioration. On monetary policy, the authorities have been successful in maintaining low inflation, and remain resolved to preserve the hard-won price stability. The financial system also remains sound.

“Preserving macroeconomic stability should be among Costa Rica’s main priorities. Reaching consensus on a medium-term fiscal consolidation strategy that lowers the fiscal deficit and stabilizes the public debt-to-GDP ratio would be the most useful step towards that objective. We also share the authorities’ concerns about risks stemming from the large private capital inflows observed over the past year. Mitigating those risks requires policy adjustments, including a tighter fiscal stance and vigilant monetary policy, and greater exchange rate flexibility.

“Overall, Costa Rica is well placed to maintain vigorous growth in a context of macroeconomic stability. The IMF will continue supporting the authorities in their efforts to achieve these objectives.”

Read the full report on the IMF website here

Land prepared for Tequisque planting in Naturewalk 3

The seed is ready, the land has been cleared and tequisque planting will begin in earnest in Naturewalk 3 next week.

Monteverde Cloud Forest

International Day of Forests - 21st March 2013

The United Nations General assembly has proclaimed 21 March the International Day of Forests. From 2013, the day will be observed each year to celebrate and raise awareness of the importance of forests and trees to all life on earth. (Ref.0003/en)

Find out how you can take part in the celebrations and help sustain the world's forests: http://www.fao.org/forestry/international-day-of-forests/en/

Preparing for Tequisque planting

As the rainy season approaches preparations are underway for planting tequisque in Naturewalk 3. 

Ideally the tequisque will be planted just before the rains come. 

Below you can see some of the access roads to the tequisque lots being leveled.

Inspecting lots in Naturewalk 3

Joshua, Alberto and Marciel discussing lot planting and irrigation in Naturewalk 3. 

These lots will be planted over the coming month, watch out for progress pictures

Growing Vanilla at Naturewalk

Edgar Rubi, Naturewalk vanilla consultant talks about planting, growing and fertilizing vanilla