Banco Central Imposes A Ceiling On Credit Growth

The Banco Central (Central Bank) imposed a ceiling of 12.2% on the growth of credit for this year over last.

The restrictive easure, part of the ‘Programa Macroeconómico 2013-2014’ (Macroeconomic Porgram), imposes a limit on new loans by financial institutions between February and October.

Thus borrowing in dollars many only grow 9.9% and 13.8% in colones, during the period.

The decision of the bank is avoid the creation of a credit bubble, said Banco Central president, Rodrigo Bolaños