Wednesday, 3 June 2020

Costa Rica Economic Outlook Up To May

THE Q – Although the gradual process of credit dedollarization continues, the Central Bank has warned that a preference remains on the part of savers for instruments denominated in foreign currency.

From a statement issued by the Central Bank of Costa Rica (Banco Central de Costa Rica):

The Board of Directors of the Central Bank of Costa Rica, in article 12, session 5768-2017, of April 26, 2017, according to the provisions of its Organic Law and based on an analysis of the international and national economic situation, decided to increase the level of the Monetary Policy Rate (TPM) by 25 basis points (bp) to 2.50% as of April 27 of this year.

The International Monetary Fund (World Economic Outlook Report, April 2017) estimates an improvement in world economic growth in the short term (going from 3.1% in 2016 to 3.5% this year); However, a warning was given of downside risks in the medium term, while structural constraints associated with weak productivity growth and uneven distribution of world income persist, as well as uncertainty over pressures for trade protectionist policies, particularly in advanced nations.

- paying the bills -

An improvement in the level of global economic activity coupled with the effect of measures aimed at reducing the supply of oil, meant that raw material prices could leave the lows recorded at the beginning of 2016. This pushed global inflation upwards and increased the likelihood of further increases in international interest rates.   

- paying the bills -
- paying the bills -
"Rico" is the crazy mind behind the Q media websites, a series of online magazines where everything is Q! In these times of new normal, stay at home. Stay safe. Stay healthy.

Related Articles

Govt will announce Monday the ‘new normality’ for Costa Rica

(QCOSTARICA) On Monday, May 11, President Carlos Alvarado and Health Minister...

Dollar Exchange Drops Below ¢570

The "yo-yo" dollar exchange today, Wednesday, April 15, is at a...


Journalist: “Right now in Nicaragua the reality is save yourself if you can”

(QCOSTARICA) What's it really like in Nicaragua in these of COVID-19? Ivette Munguía, journalist for Confidencial, answered the question using as an example of...

CNE changes protocols for attending to rains amid pandemic

(QCOSTARICA) The COVID-19 pandemic has prompted changes in guidelines the National Emergency Commission (CNE) response with the arrival of the hurricane season, for the...

What is convalescent plasma that Costa Rica applies to critically ill covid-19 patients?

(QCOSTARICA) In a phrase, convalescent plasma therapy is about removing plasma from patients who have already recovered from SARS-CoV-2, the covid-19-transmitting coronavirus, and administering...

Reduction in 2021 Marchamo proposed

This week, two bills were presented in the Legislative Assembly this week with the aim of modifying the 2021 Marchamo (vehicle circulation permit), the...

Rainy Season in Cuba Means Building Collapses in Havana

HAVANA TIMES – The rainy season in Cuba begins and with it the partial and total building collapses. Central Havana and Old Havana are...

“You’ve fallen in love with Costa Rica…but there’s only one problem…”

“you’ve fallen in love with Costa Rica…but there’s only one problem…actually, no… 100s of problems… what is the FIRST step?” Actually you’ve already taken the...

Let's Keep This Going!

To be updated with all the latest news and information about Costa Rica and Latin America.