Risk-analysis firm Standard & Poor’s (S&P) has announced an improvement in Costa Rica’s risk rating, moving the country’s credit score up from stable to positive. This revised outlook is a result of a decline in the government’s debt burden, buoyant tax revenues and stable GDP growth. “The ongoing improvement in the sovereign’s fiscal and debt [...]
Posts Tagged ‘Finance’
Foreign Investment in Latin America Reached Record High in 2007
Posted in International Relations, tagged Economy, Finance, Investment on June 9, 2008 | Leave a Comment »
The United Nations Economic Commission for Latin America and the Caribbean reports that foreign investment in Latin America and the Caribbean reached a record high in 2007, with capital flow into the region surpassing the US$100 billion mark for the first time ever. ECLAC attributes the nearly US$106 billion in foreign direct investment to economic [...]
New Medicine for the Exchange Rate Headache
Posted in Costa Rican Law, tagged Currency, Exchange Rates, Finance on June 2, 2008 | Leave a Comment »
For many years, the value of Costa Rica´s currency, the colon, was defined in relation to the US dollar in an unusual arrangement best known as a “crawling peg.” The official exchange rate would change daily, with a steady devaluation at an overall rate of approximately 3.294 colones a month. However, the weakness of the [...]
