LatinNews Regional Monitor: Caribbean & Central America - 5 June 2019

* Costa Rica’s central bank (BCCR) has agreed to reduce the minimum legal reserve requirement rate (EML) from 15% to 12% for deposits and obligations in local currency (colón). The BCCR has, however, decided to maintain the minimum legal reserve requirement on deposits and obligations in foreign currency at 15%. The adoption of this measure aims to improve credit conditions and encourage lending at the time when the pace of economic activity has slowed in Costa Rica. The EML rate has not been reduced since 2002. 

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