• Costa Rica Coffee Guide

Costa Rica banks raise interest rates

May 9, 2008
In response to Costa Ricans  voracious appetite for credit in recent months, state banks hiked interest rates by an average 1 to 1.5 percent for loans in colones and 0.5 percent for those in dollars.
 
The average interest rate for a construction loan in colones went from 11.3 percent to 12 percent. Meanwhile, the same rate in dollars rose from 9.77 percent to 10.5 percent.
 
Interest rates have been at historic lows, spurring rampant spending in various sectors of the economy. The increase is thought to be a move in the direction of fighting inflation.
 
The rate hike went into effect as of the end of April.

You may be interested

Costa Rica unemployment rate drops to 19%
Costa Rica
2537 views
Costa Rica
2537 views

Costa Rica unemployment rate drops to 19%

The Tico Times - March 4, 2021

Unemployment in Costa Rica fell to 19.1% in the moving quarter from November to January. This maintained a downward trend…

Throwback Thursday: 2006 Arenal Volcano lava flows
Arenal
4797 views
Arenal
4797 views

Throwback Thursday: 2006 Arenal Volcano lava flows

The Tico Times - March 4, 2021

Arenal Volcano's July 1968 eruption destroyed three small villages, killed 87 people and wiped out 232 square kilometers of crops…

MOPT warns of higher traffic accidents as measures are eased
Costa Rica
1328 views
Costa Rica
1328 views

MOPT warns of higher traffic accidents as measures are eased

Alejandro Zúñiga - March 4, 2021

The Public Works and Transport Ministry (MOPT) is reminding drivers to follow the rules of the road when traveling this…