{"id":10448,"date":"2024-04-15T22:29:31","date_gmt":"2024-04-16T04:29:31","guid":{"rendered":"https:\/\/www.venegasnexia.com\/?p=10448"},"modified":"2025-02-24T09:38:10","modified_gmt":"2025-02-24T15:38:10","slug":"treasury-proposes-constitutional-amendment","status":"publish","type":"post","link":"https:\/\/www.venegasnexia.com\/en\/treasury-proposes-constitutional-amendment\/","title":{"rendered":"Treasury proposes constitutional amendment"},"content":{"rendered":"<div class=\"wpb-content-wrapper\"><p>[vc_row][vc_column width=&#8221;2\/3&#8243;][vc_column_text css=&#8221;&#8221;]<\/p>\n<h1>Treasury proposes constitutional amendment<\/h1>\n<p style=\"font-weight: 400; text-align: justify;\">The Ministry of Finance seeks to reform the Constitution to allow the government&#8217;s external borrowing to not require the approval of the deputies, arguing that this would allow taking advantage of better financial conditions.<\/p>\n<p style=\"font-weight: 400; text-align: justify;\">The proposed reform would modify Article 121 of the Constitution to transfer the decision on the approval of budget support loans and the issuance of securities in the international market to the discussion of the Republic&#8217;s budget. It currently stands as an obligation of the Legislative Assembly.<\/p>\n<p style=\"font-weight: 400; text-align: justify;\">Deputies oppose this, arguing that legislative control prevents crises such as the one in 1980, caused by excessive borrowing.<\/p>\n<blockquote>\n<p style=\"font-weight: 400; text-align: justify;\">In 2023, Costa Rica&#8217;s debt grew by 7.33 percent, a considerably faster pace than economic growth, which is considered dangerous for the economy.<\/p>\n<\/blockquote>\n<p>[\/vc_column_text][\/vc_column][vc_column width=&#8221;1\/3&#8243;][vc_widget_sidebar sidebar_id=&#8221;dynamic-sidebar&#8221;][\/vc_column][\/vc_row][vc_row use_custom_fonts_h2=&#8221;&#8221; h2_font_container=&#8221;tag:h2|text_align:left&#8221; h2_use_theme_fonts=&#8221;&#8221; h2_google_fonts=&#8221;font_family:Abril%20Fatface%3Aregular|font_style:400%20regular%3A400%3Anormal&#8221; h2_css_animation=&#8221;&#8221; use_custom_fonts_h4=&#8221;&#8221; 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entypo-icon-note&#8221; i_icon_linecons=&#8221;vc_li vc_li-heart&#8221; i_icon_monosocial=&#8221;vc-mono vc-mono-fivehundredpx&#8221; i_icon_material=&#8221;vc-material vc-material-cake&#8221; i_color=&#8221;blue&#8221; i_background_style=&#8221;&#8221; i_background_color=&#8221;grey&#8221; i_size=&#8221;md&#8221; i_css_animation=&#8221;&#8221; h2=&#8221;Venegas y Colegiados, Contadores P\u00fablicos Autorizados, somos representantes de Nexia International en Costa Rica.&#8221; h4=&#8221;We have 50 years of experience providing timely and quality services in the following areas:&#8221; btn_title=&#8221;CONTACT US&#8221; btn_link=&#8221;url:https%3A%2F%2Fwww.venegasnexia.com%2Fen%2Fcontact-us%2F|title:Cont%C3%A1ctenos|rel:nofollow&#8221; h2_link=&#8221;&#8221; h2_el_id=&#8221;&#8221; h2_el_class=&#8221;&#8221; h4_link=&#8221;&#8221; h4_el_id=&#8221;&#8221; h4_el_class=&#8221;&#8221; custom_background=&#8221;&#8221; custom_text=&#8221;&#8221; btn_el_id=&#8221;&#8221; 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do not hesitate to contact us at\u00a0<a href=\"mailto:info@venegasnexia.com\">info@venegasnexia.com<\/a>\u00a0to request our services.<\/p>\n<p>If you wish to receive our newsletter, please contact us at\u00a0<a href=\"mailto:actualidad@venegasnexia.com\">actualidad@venegasnexia.com<\/a><\/p>\n<h3>We are here to serve you<\/h3>\n<p>[\/vc_cta][\/vc_column][\/vc_row]<\/p>\n<\/div>","protected":false},"excerpt":{"rendered":"<p>The proposed reform would modify Article 121 of the Constitution.<\/p>\n","protected":false},"author":1,"featured_media":10449,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_joinchat":[],"footnotes":""},"categories":[146],"tags":[],"class_list":["post-10448","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Treasury 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