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The World

Costa Rica has defaulted on interest payments on commercial loans, bankers in New York said. They said that the Central American nation failed to make a $19-million interest payment on April 28 and did not make good the default within the five days allowed. Costa Rica thus joins the ranks of Nicaragua, Bolivia and Peru as defaulters. Economic pressures facing the government in an election year were blamed, and the bankers said they expect a new government, which takes office Thursday, to put its house in order.


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