Ticos Prefer
Loans In Colones
Due To
Volatility Of
The Dollar
Exchange
Costa Ricans
prefer to get
into debt in
Colones instead
of Dollars, due
to the
volatility in
the exchange of
the US dollar.
According to a
report by the
daily La Nación,
the balance
sheet on debt
indicated 53%
was in Colones,
as compared to
only 47% in
dollars.
A year ago the
numbers were
reversed, when
48% of the debts
were in Colones
and 52% in
Dollars.
The report
indicates that
the state banks
lend more in
Colones (83%)
than Dollars and
therefore have
been the most to
benefit from
this trend.
Private banks,
however,
continue to lend
more in Dollars
(62%) and are
the most
negatively
affected with
this change of
preference.
Some banks
report that
customers have
requested to
modify their
loans, moving
their debt to
Colones from
Dollars.
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