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Costa Rica Banks Also Graded as Negative

In line with last week's revision from stable to negative for Costa Rica's economy outlook for sovereign debt, Fitch Ratings has also downgraded the outlook for the debt of state banks and two private banks. From a statement issued by Fitch Rating on January 24,...

Bill Proposed To Lift Bank Secrecy Law in Costa Rica

Bank secrecy (or bank privacy) prohibits banks in Costa Rica providing to authorities personal and account information about their customers without a court order. A bill that is being currently discussed in Congress would remove banking secrecy (or bank privacy) in the country, allowing the...