Colon tanks, Costa Rica raises interest rates to slow inflation

For the first time in history, the Costa Rican Colon surpassed 600 colones per dollar. On Wednesday, some banks were reporting an exchange rate of ₡616 for $1.
This week’s dip was caused by uncertainty surrounding the proposed tax reform bill designed to contain Costa Rica’s growing public deficit.
The proposal passed the first debate in the Legislative Assembly and is now being debated by the Constitutional Chamber of the Supreme Court (Sala IV). The Minister of

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