Costa Rica's monetary reserves fall by 99 million dollars

In less than two months the Central Bank of Costa Rica has seen a 10 percent reduction in its international monetary reserves.

Wednesday, June 18, 2008


Since April, when it reached its highest levels of reserves (4.937 billion dollars), it has fallen by 503 million dollars to 4.434 billion.
Just last week the reserves held by the central bank suffered a decline of 99 million dollars.

More on this topic

Costa Rica's international reserves dropped by $92 million

October 2008

The Central Bank's international monetary reserves continued their descent from September 29 and October 3, falling by $92 million.

The current balance is the lowest since June last year.
The Central Bank continues to use its reserves to defend the ceiling (the maximum selling price of the US dollar) of the exchange rate system, since the exchange rate in the wholesale market has been stuck at the top for the last two months due to the high demand for currency in the market.

Costa Rica: Reserves under $4 billion

September 2008

Central Bank reserves fell for the first time since November of last year to under $4 billion.

On September 5, reserves at the Central bank were at $3.92 billion. According to William Calvo, ex-director of the Central Bank's Economic Division, the reserves are still at a good level since they can cover the monetary base and around 3.3 months of imports.

Nicaragua Accumulates Currency Reserves

April 2012

A record amount of $1.938 billion in gross international reserves has been recorded in the country, a reflection of the stability and economic growth in recent years.

Mario Arana, former president of the Central Bank of Nicaragua (BCN) notes that the policy of fiscal discipline that has been maintained, has allowed the reserves to accumulate, which provide an optimistic outlook on any external shocks generated by the current problems of the industrialized economies.

Change of Chairman at Central Bank of Nicaragua

February 2012

A week after Antenor Rosales declared that international reserves "are not to be managed according to someone’s whims and preferences", he has been dismissed by President Ortega.

Alberto Guevara, hitherto the Minister of Finance, is the new Chairman of the Board of the Central Bank of Nicaragua. Guevara said that the economic policy of Daniel Ortega’s government will not change.

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