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Does the government have the money to pay the Aguinaldo for this 2018?

If you ask me today if I have it, I say no (...). There is never that liquid money in an entity like the Ministry of Finance in the circumstances in which it is. Today, the Treasury is, as we say there in Guanacaste,...

Banks Throttle Back Slightly On The Dollar, As Spiral Upwads Continues

It's been a frantic week, a financial rollercoaster for the dollar exchange. In the week, the foreign currency appreciated by ¢18.39, opening last Friday at ¢601.25 and closing yesterday at ¢619.64 in the wholesale market. At some banks we saw a high of ¢630 colones...

Costa Rica Effective Dollar Rate Goes Up

The effective rate in dollars went up to 2.13% from 2.01% last week, while the passive basic rate in colones dropped to 5.75% after remaining at 5.80% for two consecutive weeks. The Banco Central de Costa Rica (BCCR) - Central Bank of Costa Rica -...

Moody’s Questions Tax Benefit Of Plan To Handle Illiquidity in Costa Rica

  According to Moody's, the plan to reduce expenses announced by President Luis Guillermo Solís will not be enough to solve the illiquidity problem being faced, nor to avoid a rise in local interest rates. The plan to cut costs that are not mandatory in the...

Loans in Colones Get More Expensive

Interest rates on bank loans have increased by between 0.11% and 6.6% in the last year, and those for loans for construction, livestock and commerce, are where the highest increases have been recorded. Data published by the Banco Central de Costa Rica (BCCR) - the...

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...

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...

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...

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