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Banco Nacional and BCR lower rates and facilitate moving loans from dollars to colones

State banks, the Banco Nacional (BN) and Banco de Costa Rica (BCR), in a press conference on Friday, October 19, announced they are implementing measures to help people who are having problems paying their loans due to the difficult economic situation the country is...

Costa Rica Slow Down in Dollar Loans

As of September of this year, the bank loan portfolio granted to the private sector registered a 5% Year-to-Year growth, well below the 13% registered in the same month in 2016. Changes in the rules followed by banks when granting loans in dollars, increases in...

Banks Fear Increased Requests To Change Loans From Dollars to Colones

Q MONEY - A hike of ¢9.64 colones in the dollar exchange market since last Friday alone has some bank customers scared, and banks anticipating a significant increase in the number of their clients interested in changing their loans from dollars to colones. The dollar...

Costa Rica Should Move Towards De-dollarization of the Economy, Central Bank President

QCOSTARICA - The president of the Central Bank of Costa Rica (Banco Central de Costa Rica - BCCR), Olivier Castro considers it a priority goal to de-dollarize the economy. Castro this week at a press conference expressed concern about the dollarization of credit of those...

Loans in Dollars in Costa Rica Get More Expensive

(QCOSTARICA) Arguing an attempt to control credit growth in dollars, the Central Bank will apply a reserve limit of 15% to banks that receive lines of foreign funding in that currency. The banking sector has opposed the measure, asserting that it will result in an...

Bank Lending Slows

QCOSTARICA - Bank lending in Costa Rica has slowed down, falling from a rate of 16% in March 2014 to 8% in the same month this year. According to a report in Elfinancierocr.com,  dollar loans by state banks are showing the biggest decline, after a...

Costa Rica Central Bank Move Likely to Curb Dollar Loans

COSTA RICA NEWS (Fitch Ratings, Feb. 12) - The move by Costa Rica's central bank to adopt a managed floating foreign exchange rate regime along with the Superintendence of Financial Entities' (SUGEF) efforts to curb high dollarization in the banking system are likely to...

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