Macroeconomic Forecast Costa Rica

July 2008 | Macroeconomic Forecasts

BMI View: Worsening terms of trade, falling confidence in the local economic outlook, an FDI contraction (by 28% y-o-y in Q108 to US$441.7mn), and central bank intervention continue to batter the Costa Rican colon, with the unit hitting an all-time low of CRC550.00/US$ in July. We could see a slight recovery in H208 as the central bank, which has already upped the benchmark interest rate by 275bps since mid-April to 7.00%, continues to target

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