Central Bank President Sees Costa Rica Economy Strengthening

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    The Costa Rica News (TCRN) – Since taking office in 2014, Costa Rica President Luis Guillermo Solis has had strong focused on promoting Costa Rica abroad to the international business and investment communities. Costa Rica, in decades prior, established and promoted its reputation as strong stable economy with a highly-educated, young, low cost workforce, to United States, China and European markets.

    While the new administration has suffered in popular opinion polls and has taken some flack on how much time Solis and his ministers have spent abroad promoting investment, the Central Bank sees dividends for the later part of the year. According to a recent report on Bloomberg Business, Central Bank President Olivier Castro sees the nation’s currency (the colon) strengthening further in the later part of the year as more foreign money flows into the Costa Rica economy, as well he stated that lower energy prices coupled with inflation levels below expectations, policy makers will be able to reduce interest rates to further stimulating the economy.

    The central bank president also was optimistic of accelerating public work projects in the second half of the year which will also boost the Costa Rica economy.

    Costa Rica President Solís recently returned from a 10-day tour of the United States, where he held several meetings to attract investment and now he is traveling to Paris, Geneva and Brussels. In France, Solís’ is to have a meeting with President François Hollande, then travel to Geneva meetings with U.N. officials, and in Brussels he will participate in a summit by the Economic Commission for Latin America and the Caribbean.

    The Costa Rica News (TCRN)
    San Jose, Costa Rica

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