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Costa Rica: active engagement – Candriam

Stay or leave? How do they determine the future developments for a material new risk?

Posted on Jun 25, 2024

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... Debt issuers, and especially sovereigns, are more difficult to engage with than equity issuers. Costa Rica, a country which ranks well on Candriam’s proprietary sovereign sustainability model, was added to the European Union's list of non-cooperative jurisdications for tax purposes in February 2023. This is a material negative development with both financial and sustainable consequences for the country and its bonds. Candriam's portfolios hold notable positions. Candriam's sustainability risk committee insist that the emerging market debt investment team and engagement provide additional information for a committee decision.

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