US dollar investments in Costa Rica began to stabilize last week following a turbulent six weeks of market activity which saw investors withdraw almost half of the money deposited in these funds, according to the Tico Times.
The report stated that between March 15 and Tuesday of last week, the money under management plummeted from $2.24 billion to $1.29 billion, sparked by a drop in the price of the Costa Rican Central Bank and Finance Ministry bonds.
Consequently, some 15,000 out of 42,000 investors exited the market, the Tico Times reported, and according to the country’s financial regulator, the Superintendence of Securities (SUGEVAL), total capital and accumulated interest losses topped $123 million.
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