By  reporters Patricia Leitón and Ismael Venegas reporters from la Nación

The president of Costa Rica’s Central bank, Francisco de Paula Gutierrez sees no economic indication that points to Costa Rica being affected by the financial  crisis that is hitting the world market.

Costa Rica is a country that is not an integral part of international stock markets and the local banks are healthy. The country also has access to these funds: The Latin American Reserve Fund (FLAR), The Andean Community Fund ((FLAR) and the International Monetary Fund (FMI). Furthermore, there is a mechanism called the Mercado Interbancario de Dinero whereby local banks can guarantee their liquidity by lending each other money.

Guitierrez goes on to pint out that the local market is no very leveraged like other markets.

We still need to wait and see how the Baby Boomers are going to respond to the election to know the real fallout in the  Costa Rica Real Estate market.