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In the first half of this year, the Costa Rican government raised $602 million dollars through government bond sales, while during the same period in 2011, they raised only $195 million dollars.
This indicates that sale of government bonds in dollars in the Costa Rican stock market rose 207% and during the same period the sales of bonds in colones declined 2%.
The year 2012 began with very high interest rates in colones, which meant that most debtors, both government, companies and individuals have sought to solicit for their loans in dollars.
Additionally in 2012, US dollar credit demand has grown 19.6% at public banks and 16% among the private banks, while credit demand in colones has dropped more than 10%.
These values corroborate the current preference for borrowing in dollars in Costa Rica while the local currency interest rates are significantly higher.
Hmmm! I had read somewhere that they were going to issue Eurobonds to protect themselves against any further weakness in the US dollar, did you see that Tom?
Scott
Eurobonds??
are you kidding ME!!
read some more:
it is in Spanish but you can convert it to English if you are interested enought
???
No I was not kidding (??) and as the La Nacion article you linked to clearly shows, this was a serious consideration…
I don’t need to use a translation tool – thanks!
Scott
another JAB
what do you think this means??
Read closely on how the web by the spider will engulfull you
“Las bandas” is nothing more than the Bank of CR playing the system
Money, Money, Money, Money!!!!
CASH is KING but what type of cash, dollars, Euros, Gold, Oil investments ($3.05) a gallon today in Florida from $3.71
Yesterday I was worth about $1,500,000.00 and today close to $750,000.00
and I still live with $2,500.00 a month
present value is better than Future value
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