The Costa Rican banking sector opposes such a measure, arguing that imposing an upper cap on interest rates on bank loans would cause informality in the credit market.
The 20.861 reform of the competition promotion and effective consumer defense, which aims to cap credit interest rates, is discussed with the country's Tax Affairs Commission.
Regarding the establishment of a rate cap, Ronulfo Jiménez, legal advisor to the Costa Rican Banking Association, said during the hearing that "... these initiatives are not retroactive, leaving the population with over-indebtedness in that condition, therefore, denies that this will benefit the consumer."
The margin of financial intermediation in colones fell by 1.3% and stood at 7.1%, while a rate of 3.5% was recorded dollars.
From a statement issued by the Costa Rican Banking Association:
31 March, 2016. The Costa Rican Banking Association (ABC by its initials in Spanish) presents data on the performance of the Financial Intermediation Margin (MIF by its initials in Spanish) between 2008 and 2015, showing that this was reduced at the end of last year, both in colones and dollars.
In the last three years there has been a decline in the amount of credit granted to private companies for purchasing property, land and construction of buildings.
In September 2014, on average, 834 transactions were formalized between banks and other financial companies, representing a decrease of 28% compared to the same month in 2013. The downward trend in granting of loans for these purposes has been observed since early 2012.
The discretionality of interventions made by the central bank in the foreign exchange market could open the gate for unjust enrichment of those who have inside information.
EDITORIAL
In the best of democratic worlds, the intervention of public employees in the economy generates income transfers between the sectors within the economy, according to state policies that are largely accepted by the population.
51% of the country’s internet users are willing to change providers if they receive tempting alternative offers.
As for mobile telephony, 36% of the clients say they don’t mind changing providers.
An article in Elfinancierocr.com discusses the findings of a survey conducted among Costa Ricans by the University of Costa Rica. It provides insights as to how will internet and mobile phone users behave when the telecom market opens to new competitors.
2010 is looking better than 2009, but it is necessary to keep an eye on cash flow, and insist on containing expenses.
An article by Édgar Delgado Montoya, based on a survey conducted among 40 Costa Rican analysts, gives suggestions for the new year, and can be extrapolated to the rest of Central America.
The projection in which analysts agreed the most is that developed nations will grow at a very moderated pace, and the same will happen with domestic economic growth, so local and external sales will grow very little.