April 29, 2020 / 11:04 PM / a month ago

IMF approves $508 million loan to Costa Rica-central bank

FILE PHOTO: The logo of the International Monetary Fund (IMF) is seen during a news conference in Santiago, Chile, July 23, 2019. REUTERS/Rodrigo Garrido

SAN JOSE (Reuters) - The International Monetary Fund has approved a $508 million loan to Costa Rica to help deal with the crisis sparked by the coronavirus outbreak, Costa Rica’s central bank said on Wednesday.

The central bank said the IMF’s directory had approved the loan as a so-called Rapid Financing Instrument. The loan had been requested by Costa Rica.

Reporting by Alvaro Murillo

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