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Who is affected by the lifting of bank secrecy?

The decision of the Ministry of Finance to once again discuss the lifting of bank secrecy (banking privacy) once again raised voices of support and rejection among the different sectors. The Government is promoting the measure as part of its proposals to reduce the growing...

Bankers Oppose Lifting of Bank Secrecy

The Costa Rican Banking Association expressed its opposition to the proposal of the Minister of Finance, Rodrigo Chaves, to lift bank secrecy as one of the measures to reduce tax evasion. Chaves made the proposal, on Monday, February 10, before legislators, as one of the...

Minister of Finance: ‘The Mortgage Is Killing Us’

In an interview with La Nación, the Minister of Finance (Ministro de Hacienda), Rodrigo Chaves, answers why his diagnosis of public debt differs from that projected by the Central Bank and explains the handling of Eurobonds money. In addition, he defends the need to borrow...

Bill Proposed To Lift Bank Secrecy Law in Costa Rica

Bank secrecy (or bank privacy) prohibits banks in Costa Rica providing to authorities personal and account information about their customers without a court order. A bill that is being currently discussed in Congress would remove banking secrecy (or bank privacy) in the country, allowing the...

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