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Costa Rican central bank to join curbs on capital flows

Friday, January 25, 2013

Costa Rica's Central Bank will join the country's government in taking measures to slow down the flow of capital from developed countries, which has caused an appreciation of the colon, said president Laura Chinchilla.

"The bank is very likely to announce over the next few days the measures it will take, although I can't speculate what they will be", said Chinchilla.

The bank's decision comes after the government proposed to raise taxes up to 30 percent on foreign investment deposits.

Full story (in Spanish)