The exporter and touristic sector sent a letter to Banco Central de Costa Rica (BCCR) suggesting to review the foreign currency exchange policy to favor the country’s competitiveness on their activities.
Laura Bonilla, president of the Chamber of exporters, said that they’re concerned for the loss of competitiveness of these sector facing other nations that have devalued their currencies, such as Mexico, Colombia and Peru.
The exchange policy has been subjected to the exclusive achievement of inflations goals, leaving totally forgotten the competitiveness of the national productive sector to promote productivity and employment, which could deteriorate social and economic stability”, said the Chamber of Exporters and the Tourism association in a letter dated April 27, 2016.
On the topic of inflation and unemployment, the manager of BCCR Eduardo Prado pointed that to give up on inflation to increase employment might be costly.
An inflationary process out of control for the aim to reduce unemployment might end up with macroeconomic stability of a country, causing more uncertainty about the economic activity among employers. Therefore they will be more cautious on their decision to invest and hiring personal, increasing unemployment”, Prado said.
Source: La Nación.