Tuesday 13 April 2021
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Central Bank foresees economic growth of 2.6% this year

QCOSTARICA - The Costa Rican economy will grow 2.6% this year, after a 4.5% contraction in Gross Domestic Product (GDP) last year. That was the word from Rodrigo Cubero, president of the Banco Central de Costa Rica (BCCR) - Central Bank, on Friday, January 29,...

President complains because he inherited a “mortgaged” country

  In the CRhoy.com caricature, we see President Carlos Alvarado (left) painting the typical Costa Rican country house, at the precipice of the Fiscal Deficit, while his predecessor Luis Guillermo Solis and his "official mascot" looks on from the firm ground. “The Alvarado administration said it...

Costa Rica’s Mafia

When the word mafia is mentioned, the first things that usually comes to mind are the likes of Al Capone, La Cosa Nostra, The Mob or Pablo Escobar. Well, the government mafia in Costa Rica is not as evil as those just mentioned but...

What could be expected with the exchange rate in the coming weeks?

The dollar has dropped, hovering the ¢600 mark after a high only a few weeks ago of ¢630. What could be expected from the exchange rate in the coming weeks? The position of the Constitutional Court (Sala Constitucional ) with respect to the bill -...

Fitch Issues Costa Rica Alert

Fitch Ratings has given Costa Rica 90 days to resolve its public finances before lowering its risk rating. Through a statement, the rating agency issued a negative notice about the country's outlook - which was already negative - and which places the rating at...

Hello, Devaluation! Central Bank ‘Got Tired’ Of Spending Reserves To Curb Rise In The Dollar

On Wednesday, October 31, 2018, the dollar exchange moved from one to the next in a way it has never done before, up ¢10 colones in the wholesale market (Monex) and ¢15 in the retail market (banks). The dollar exchange reference rate posted this morning...

Could Costa Rica go the same way of Argentina?

Argentina is in crisis. The fiscal deficit experienced by the country, added to inflation and the devaluation of the currency versus the US dollar has the country on the edge of another possible economic debacle. What is happening in Argentina, a country with the third...

IMF Mission: Fiscal Measures in Costa Rica Are Insufficient, But Necessary

The International Monetary Fund (IMF), during a visit to Costa Rica from June 12 to 15, 2018, warned that although the measures announced by the authorities to confront the fiscal situation are a step in the right direction, a more comprehensive reform strategy would...

President-elect Alvarado Faces Biggest Deficit In Three Decades

The challenge facing the next government led by President-elect Carlos Alvarado, is a Costa Rica economy facing its biggest fiscal deficit in 30 years, when more than one-third of the central government's debt is due and without many instruments to finance it, with permission...

Next Government Will Not Be Able To Avoid Tax Reforms

The next government will not be able to avoid tax reforms.

Loans in Colones Get More Expensive

Interest rates on bank loans have increased by between 0.11% and 6.6% in the last year, and those for loans for construction, livestock and commerce, are where the highest increases have been recorded. Data published by the Banco Central de Costa Rica (BCCR) - the...

Another Blow To Costa Rica’s Credit Standing

(QCOSTARICA) JP Morgan Chase, the largest bank in the United States, is advising its investors hold less Costa Rica bonds in their portfolios due to the high risk. In its report of each country, the JP Morgan EMBI Global Index downgraded Costa Rica bonds from...

“We’ll Do Much Better In The Second Year”, Promises President Solis

QCOSTARICA - President Luis Guillermo Solis is the first to admit that his not satisfied with his first year of his administration, assuring on Sunday, in a national television and radio broadcast, that the second year will be better. Solis calls for decisions to take...


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