Costa Rica economic outlook good for 2008

Costa Rica economic outlook good for 2008 Costa Rica's economic outlook for 2008 is positive, with the country's debt levels shrinking and the economy projected to grow by at least 5 percent in 2008, according to the country's Finance Ministry.
   Finance Minister Guillermo Z''iga said in a year-end press conference last week that the debt level was down 4.5 points in 2007, after decreasing 3.5 percent in 2006. The debt is now equal to 46 percent of Costa Rica's gross domestic product, which is just under $21 billion.
   Z''iga told the new agency ACAN-EFE that the positive economic outlook is grounded in the country's national reserves, as well as stable interest rates in Europe and decreasing interest rates in the United States, which will allow Costa Rica to arrange for lower interest on its existing, more expensive debt.
   He told the Associated Press that the International Monetary Fund is projecting a 5 percent increase in Costa Rica's GDP in 2008, adding, 'I'm more optimistic.'