• Costa Rica Coffee Guide

Foreign Debt at Historic Low

November 23, 2007

Costa Rica’s foreign debt has dropped to the historically low level of $81 million, down dramatically from the $1 billion the country owed a decade ago.

In addition, Central Bank president Francisco de Paula Gutiérrez noted to daily La República that the majority of the debt that remains has been switched over to colones, putting the Central Bank in a better position to address issues like inflation.

“We’re in a less vulnerable situation because the Central Bank has the ability to produce colones, not dollars,” he said.

This means the Central Bank is also in a better position to allow the value of the colón to float more, something Gutiérrez in the past has noted is one of the bank’s along-term goals.

 

You may be interested

Nearly 100 locations now offer antigen tests for travelers in Costa Rica
Costa Rica
3268 views
Costa Rica
3268 views

Nearly 100 locations now offer antigen tests for travelers in Costa Rica

Alejandro Zúñiga - February 26, 2021

Several countries, including the United States, require that returning travelers test negative for the coronavirus. More than 100 labs in…

Costa Rica Covid-19 information from the U.S. Embassy
Costa Rica
1469 views
Costa Rica
1469 views

Costa Rica Covid-19 information from the U.S. Embassy

The Tico Times - February 26, 2021

The United States Embassy on Friday issued a summary of Costa Rica's coronavirus measures that our readers may find helpful.…

Costa Rica will (finally) support contactless payments on public transport
Costa Rica
1146 views
Costa Rica
1146 views

Costa Rica will (finally) support contactless payments on public transport

Alejandro Zúñiga - February 26, 2021

Costa Rica's next step toward modernizing its public transport system will be to allow contactless payments. The Railway Institute (INCOFER)…