With the disappearance of the differential between the interest generated on the two currencies, the choice between one or the other for using for savings is being defined by the risk of devaluation of the colon against the dollar.
An article in Elfinancierocr.com reports how the fall of the passive base rate during 2016 decreased the gap between interest rates paid on deposits in both currencies, concluding that "...If the trend continues, for savers it will be the same keeping their money in colones or in dollars and they may prefer the currency in light of the possibility of rates rising overseas."
In response to the severe water supply crisis in Costa Ricatax exemptions have been proposed for the purchase of materials, equipment and devices for saving water.
The state run Aqueducts and Sewers company (AyA) is preparing a bill to exempt three taxes on buying water saving devices such as low consumption tanks, water saving devices for pools or drinking fountains, ejector aerators, filters, faucet timers, volumetric reductors, and low consumption irrigation systems, among other things.
45% of Costa Ricans prefer to pay with cash than use debit cards, despite the fact that nearly 8 out of 10 possess this means of payment.
According to the latest study by the World Bank (WB), 53.6% of people over 15 years old in Costa Rica have at least one debit card, placing the country in fourth place in Latin America, just behind Brazil , Puerto Rico and Chile.
In what appears to be a reaction to the scandals caused by the allegations of corruption on the part of members of the previous administration, Citibank and Banco Nacional have stopped attending to the accounts where the Democratic Party's administrators deposited money coming mainly from electoral subsidy.
The Ministry of Economy in Panama recognizes that the drop achieved in the cost of basic goods is not what was expected, and companies are insisting on its removal.
Since price controls were implemented on 22 of the goods in the basic basket, up until September consumers managed to save $38.66, $58 less than the government had indicated could be achieved with the implementation of the measure.
Growth in income and increased foreign investment explain part of the increase from the $49,730 million worth in deposits in August 2010 to $73,302 million in the same month this year.
The Superintendency of Banks of Panama (SBP) reported that deposits which grew the most in the period in question are internal deposits in the International Banking Center (IBC) with a balance of $44.6 million, followed by individual deposits, with $34.1 million and finally government deposits with $6.4 million.
Between March last year and the same month in 2014, total deposits in the domestic financial system went from $3.431 billion to $4.185 billion.
More deposits by households, businesses and government boosted growth of deposits by 2.3 % in March compared to the previous month. The dynamism was recorded in overnight deposits, which grew 35.5 %, while fixed term deposits and savings deposits grew 20.5 % and 5.8 % , respectively, according to the Monetary and Financial Code and the Central Bank of Nicaragua (BCN).
Between 2006 and 2013 the number of agencies in the network of cooperatives in the country doubled.
Salvadoran Credit Unions have experienced a significant increase in the last year in order to expand financial services in most areas of the country.
The Federation of Savings and Credit Cooperatives of El Salvador (Fedecaces) announced that "growth is supported by an increase of over 20% in the portfolio of loans and deposits, after the close of 2013."
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