Monday 6 February 2023

Government revokes bill to sell the BCR

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4 February 2023 - At The Banks - BCCR

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QCOSTARICA – The Minister of Finance, Nogui Acosta, confirmed that the Government called off the project to sell Banco de Costa Rica (BCR).

The Minister was summoned to a hearing before the Economic Affairs Commission to answer questions in reference to the initiative presented by the current administration to sell the State bank when made the announcement to committee legislators of the withdrawal of the bill.

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“The observations have made us consider the need to call off this bill from this moment on. Our interest is to incorporate the observations, the doubts that have been generated,” stated Acosta.

Through a press release, the Minister of the Presidency, Natalia Díaz, confirmed the decision of the Executive Power. According to the Díaz, the government’s interest is to reconsider the proposal and insist on the sale of the bank once the changes to the bill are made.

Acosta revealed that, according to estimates by the Central Bank of Costa Rica, the State would obtain between US$1.8 billion to US$2.453 billion with the sale of the BCR.

On this same issue, the New Republic Party (PNR) joined the legislative benches that reject the bill for the sale of the BCR.

This story is in development.

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