Central Banking

Row brews in Costa Rica over new banknote

costa-rica-banknote

The Central Bank of Costa Rica has caused a furore with its choice of wording on the new ₡1,000 ($1.99) banknote.

Next to an image of Braulio Carrillo Colina, who was twice the head of the state of Costa Rica, between 1835 and 1837 and again between 1838 and 1842, is a shield that says "Estado de Costa Rica" on it. This translates to "State of Costa Rica" and has caused uproar as the country is now known as a Republic.

A local radio host has publicly called on the central bank to recall the bill

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