$117.5 million for the state financial sector in Costa Rica

The initiative proposed by president Oscar Arias seeks to strengthen the sector and shield it from the global crisis.

Tuesday, November 25, 2008

The president said that the National Bank, the Bank of Costa Rica and the Agricultural Bank of Cartago have enough liquidity and that this is just a preventative measure.

More on this topic

Best Savings Rates are in Public Banks

June 2012

Public banks in Costa Rica are competing with the state, paying almost 10% interest in order to raise funds in local currency.

The three state banks and the Banco Popular are offering an interest rate of 10%, while private banks are paying 9% on deposits on terms of between 5 and 7 months.

Costa Rican State Banking Profits Decrease

April 2009

In the first quarter of 2009 state bank profits fell by 25% when compared to the same period in 2008.

According to the Superintendent of Financial Institutions (SUGEF), the opposite happened with private banks, which increased their profits by 12% over the same period.

Hard economic times may just be starting

October 2008

The finantial crisis in USA will especially hurt Mexico and Central America, whose economies are closely tied to the U.S. market.

Don't be fooled by the universal sigh of relief that was heard Friday when the U.S. Congress approved a $700 billion package to rescue the U.S. banking system.

The financial crisis: the inevitable adjustment

October 2008

When the true economic value is too far from the fabulous figures invented by financial engineering, crisis - and an adjustment - is inevitable.

Cristóbal Perez-Jerez Alvarado, MBA in international economics, analyzes, with the very much needed academic indifference of today (and also the very scarce common sense), the current financial crisis.

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