Chamber of Commerce President Enrique Egloff, at a meeting with leaders of the legislative groups, reiterated that there is callousness and ignorance of the country’s economic reality.
He pointed out that it is very easy for central bankers to sit at a desk and not understand that the country’s economy is collapsing.
The representatives of these chambers agreed that the demand for changes in the law is aimed at stopping the fall in the dollar exchange rate and thus the loss of competitiveness of the national market.
They also pointed out that the central bank usually prioritizes controlling inflation, thus ignoring relevant factors such as overall economic stability and full employment.
For this reason, they proposed to amend Article 2 of the founding law of the central bank so that these priorities are included in the analysis of the institution.
In this regard, the leader of the legislative group of the Broad Front (FA) party, Jonathan Acuña, recalled that since June 2022 his group had tabled a bill according to which the central bank’s priority was not only to control inflation.
The FA reform, Acuña explained, proposes that the Central Bank of Costa Rica must maintain the internal and external stability of the national currency and ensure its conversion into other currencies according to the economy’s potential to increase production.
This, he continued, to promote full employment of productive resources, stable prices and moderate interest rates in the long term.
In another part of their participation in the meeting with faction leaders, the producers pointed to the possibility of penalizing or taxing so-called swallow capital or investments.
Seeing the above as a way to control speculation at the time, Gerardo Corrales, advisor to pineapple farmers, asserted that “the world environment of 2023 is complicated, there is stagflation, nervousness, inflation, high interest rates and behind the scenes sticks, appreciation abruptly”.
lam/ale