Costa Rica's new president takes office, vows to tackle debt

Rodrigo Chaves is sworn in as Costa Rica's new president during his inauguration ceremony at the hall of the Legislative Assembly in San Jose, Costa Rica May 8, 2022. REUTERS/Mayela Lopez

SAN JOSE (Reuters) - New Costa Rican President Rodrigo Chaves vowed to keep up with payments to relieve years of mounting debt in his inaugural address on Sunday, the first day of his four-year term.

Chaves previously said he would rework a $1.78 billion financial support package from the International Monetary Fund (IMF) in a bid to consolidate finances in the country with the heaviest debt load in Central America, at 66.5% of gross domestic product.