Costa Rican central bank gets $1bn to shore up exchange rate

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The Central Bank of Costa Rica has secured a $1 billion credit line from a regional relief fund to relieve pressure on the exchange rate.

In a statement, the Fondo Latinoamericano de Reservas (Flar) says it approved the credit line for a period of three years, following a meeting on October 2.

In providing this support, the Flar “contributes to macroeconomic stability, and to the commercial and financial integration of Latin America”, the fund says.

The loan, requested in June, is part of a

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