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Costa Rica Credit Card Debt Grows 23%

The number of cards in circulation in the country grew by 9% between July 2016 and July this year, and the balance of debt increased by 23% in the same period. That is the result of the latest quarterly study on credit and debit cards,...

Yes, microlending reduces extreme poverty

A small boost in microlending to the developing world could lift more than 10.5 million people out of extreme poverty. That’s one conclusion of my study, published last month in The B.E. Journal of Macroeconomics, which found that microfinance not only reduces how many...

Costa Rica’s Plastic Money Market

QCOSTARICA - Almost three fourths (72%) of the credit cards circulating in the country have interest rates from between 40% and 50%, while the default interest varies from 24% to 65%. The results are from a stud by the Ministry of Economy, Industry and Trade...