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Costa Rica has been hit hard by the Covid-19 pandemic, owing to its highly open economy that has large exposures to trade, tourism, foreign direct investment, and global supply chains. Tourism exports, which account for over 6 percent of GDP and 19 percent of exports, have collapsed with border closures, while other exports have also slowed owing to a slump in demand from trading partners. A severe local outbreak, which saw confirmed Covid-19 cases jump to 669 in just over six weeks, has led to large domestic labor restrictions, aimed at preventing a spreading of the virus, and is poised to cause additional widespread and prolonged disruptions to economic activity, balance of payments (BOP), and fiscal accounts, at a time when the fiscal space is very limited.