The steady flow of investments that came into the country in 2012 and part of 2013 has been reversed.
This was indicated by the president of the Central Bank of Costa Rica, without giving details of the extent of the phenomenon.
Rodrigo Bolaños told Elfinancierocr.com that "... Capital inflows into the Costa Rican economy between 2012 and early 2013, to take advantage of high local interest rates, have begun a process of gradual withdrawal ...
The mere name of the bill approved by Congress "An Act to Discourage Entry of Capital from Abroad" reveals how dangerous this regulation could be for the Costa Rican business climate.
An article in Nacion.com reports that "...This bill was submitted to Congress a year ago, promoted by the Government, after the central bank detected a wave of speculative capital attempting to take advantage of interest rates in the country and then take it abroad."
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