Costa Rica's Central Bank warns of a major economic adjustment

The president of the Central Bank of Costa Rica, Francisco de Paula Gutiérrez, warned the country that it will have to make a strong economic adjustment.

Friday, July 4, 2008

The high cost of food and fuel, the scarcity of external resources, and low growth in its leading trade partner, the United States, are forcing the country to make adjustments to maintain economic stability.
Gutiérrez said the nation needs a more restrictive monetary policy, and he will raise interest rates gradually to curb the growth in the money supply.

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