Costa Rica News, Daily News in Costa Rica by the Tico Times
Feb 17, 2009
 
   
LOGIN | SUBSCRIBE | GUIDEBOOKS | ARCHIVE SEARCH | CONTACT US |
| Home
| Top Story
| Business & Real Estate
Costa Rica Activities, Things to Do - Weekend Travel, Culture, Fishing | Arts, Travel & Fishing >
| The Nica Times
| Daily News
| Letters to the Editor
| Photo>
| Classified Ads >
| Exchange Rates
Central Bank
Reference Rate
BUY ˘558.12 SELL ˘567.85
| Previous Daily News
| Monday | Tuesday
| Wednesday | Thursday
| Friday
China buys more Costa Rican debt
By Gillian Gillers
Tico Times Staff | ggillers@ticotimes.net

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.

 
a
RETURN TO THE TOP OF PAGE

HOME | SUBSCRIBE | ADVERTISE | GUIDEBOOKS | BACK ISSUES | ARCHIVE SEARCH | CONTACT US | ABOUT US | NEWSSTANDS | LINKS | POLICIES