Industrial entrepreneurs consider the country's high electricity tariffs as the main factor affecting their companies’ competitiveness, as well as costs of social security, high fuel prices, bad road infrastructure, unfair competition from informal businesses, and high taxes.
An increase in transactions from businesses that exchange dollar investments into colones to pay taxes drove fluctuations in dollar prices in the past four months.
A majority of consumers surveyed expect increases in interest rates on bank loans, in the dollar exchange rate and in fuel prices during the coming year.
Delays on the approval of fiscal reforms prompted Fitch Ratings to downgrade Costa Rica's Long-Term currency bonds earlier this month and ratings for six banks, including four state-owned banks.
The Costa Rican currency, the colón, has been on a slow slide against the the U.S. dollar during the last several months but analysts say it’s unlikely to fall much farther.
President Solís highlighted the healthy economy in his State of the Nation speech but offered no hints as to how his administration might change tack to achieve its specific goals, including fiscal reform.
MANAGUA, Nicaragua – The International Monetary Fund said Wednesday it will close its office in Nicaragua in August because its job was done helping the country reduce debt and poverty, and to get on the path to sustainable growth.
The United States and Argentina sealed a major trade deal on the first day of President Barack Obama's visit Wednesday, bolstering the efforts of his counterpart to end a decade-and-a-half of international financial isolation.
