China buys more Costa Rican debt

February 13, 2009

China recently bought $150 million in Costa Rican bonds, making good on a promise that enticed Costa Rica to cut diplomatic ties with Taiwan in 2007.

In exchange for diplomatic recognition, China pledged to buy $300 million in Costa Rican bonds, to be repaid over 12 years at 2 percent interest. China purchased the first $150 million in January 2008. By borrowing at such a low interest rate, Costa Rica saves ¢50 billion ($90.9 million) over 12 years, according to Finance Minister Guillermo Zúñiga.

Last year, when the Supreme Court forced Zúñiga to make the bonds purchase public against China´s wishes, Zúñiga suggested that China might not make the second purchase.

You may be interested

Costa Rica’s snakebite research pioneers save lives worldwide
Changemakers
90 views
Changemakers
90 views

Costa Rica’s snakebite research pioneers save lives worldwide

Mitzi Stark - May 23, 2018

The Clodomiro Picado Institute is spread along the main road of Dulce Nombre de Coronado, northeast of San José. Its…

Adaptive surfing, part II: The story of Dean Bushby
sports
205 views
sports
205 views

Adaptive surfing, part II: The story of Dean Bushby

Ellen Zoe Golden - May 22, 2018

A three-part look at adaptive surfing in Costa Rica. Read Part I here to learn how a Central Pacific coach is…

Costa Rica launches Pride Connection network
Human rights
261 views
Human rights
261 views

Costa Rica launches Pride Connection network

Elizabeth Lang - May 22, 2018

As Costa Rica continues to grapple with the disagreements about marriage equality and gender identity that dominated the second round…