The Executive Branch insists on defending its approach to exclude public banks from a bill to protect savers through a guarantee fund that covers their deposits in case of risk.
Despite the warnings of the technical commissions of the Organization for Economic Cooperation and Development (OECD), legislators, the president of the Central Bank (BCCR) and the Minister of Commerce (Comex), on Tuesday, the Minister of the Presidency, Víctor Morales Mora, said that the government will try to persuade them not to include state banks in the approach.
The state bank savers have a total guarantee by law and therefore the focus of the law should be in relation to giving that guarantee to the private bank and cooperative savers, that has been our focus. There is a process of dialogue and construction,”
said Morales.
He added that there should be no concern about disagreements in this area and the delays that this may imply in order to specify the country’s entry into the OECD.
Morales insisted that to reach an agreement on this aspect there is time until February and said that the projections of the Executive Power is to be able to comply with the approval of laws and committees for admission to the OECD in the same month so that the country is incorporated by May 2020.
This Monday, the president of the BCCR, Rodrigo Cubero, said the deposit insurance bill presented by the Executive Power to Congress or breaches the requirements for Costa Rica’s accession to the OECD.
The chief said that the Government’s project does not fully meet the requirements as expected by the Financial Markets Committee at this time.
crhoy.com