Costa Rican authorities tell president reserves are sufficient

Central Bank of Costa Rica
Central Bank of Costa Rica
Photo: Haakon S Krohn/Wikimedia Commons

The Central Bank of Costa Rica (BCCR) contradicted the country’s president in a May 23 statement, denying the country had insufficient international reserves.

The central bank also said the president, Rodrigo Chaves, had overstated the decline in reserve totals over the last two years.

Chaves, a former World Bank official and minster of finance, took office as president on May 8. Speaking at the World Economic Conference in Davos, Switzerland, Chaves said that his country “did not have the

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