Thursday 4 March 2021

Costa Rica Employers Fear Unemployment Caused by Credit Limit

The business community fears that the credit restrictions imposed by the Banco Cental (Central Bank) will cause job losses and halt the creation of new jobs.

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In fact, in 2012 the creation of new jobs grew only 2.8%, while in 2011 it was 5%, according to the  Caja Costarricense de Seguro Social (CCSS).

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The director of the Unión Costarricense de Cámaras y Asociaciones del Sector Empresarial Privado (UCCAEP) – Union of Chambers and Associations of Private Business Sector, Luis Mesalles, stressed that employment will be affected this year.

For his art, the president of the Cámara de Comercio de Costa Rica (Chamber of Commerce of Costa Rica), Arnoldo André, acknowledged the fears that will affect the trade sector, the largest employer in the country with more than 200.000 workers.

Financial experts, like the VP of BAC Credomatic, Gerardo Corrales, the best advice for people is to care for their employment.

The credit restrictions leading to less employment is also expected to impact consumer consumption.

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