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Costa Rica takes measures to stem speculative capital

Friday, January 18, 2013

Costa Rica started to take measures proposed by the private sector to slow down capital inflows which have caused its currency to be the best performing in the region this month.

The government will lower the interest rates on bonds in colones, while the Central Bank will establish a slightly higher inflation rate.

Coupons on 10-year bonds sold by the Central Bank will be lowered from 9 to 8.5 percent, said Finance Minister, Edgar Ayala.

Full story (in Spanish)