State Bank Criticizes Alternative Project to the Fiscal Plan

The managers of the three state banks spoke against the bill with which the executive power tries to solve part of the fiscal problem of the country.

Fernando Naranjo, of the National Bank, Guillermo Zúñiga, the Farm Credit Cartago (Bancrédito), and Mario Rivera, of the Bank of Costa Rica, said in a note, sent to Congress that the plan “involves a substantial reform of the autonomy of the state banks. ”

The initiative, called Law for Efficient Management of Public Finances. This law seeks to establish budgetary controls and access to information from public entities, to manage the resources of the state.

The proposal would generate a fund near to ¢ 68,000 million a year, and was created as a contingency action plan after the failure of the prosecutor in the Legislature.

For this reason, the Project Executive, seeks to eliminate wage increases to the leaders and employees, so they do not receive wages above ¢ 3 million, transferring the surpluses of the devolved institutions to the state and control measures more rigorous.

The discussion of the plan began yesterday at the Financial Affairs Committee of the Assembly, with the appearance of Finance Minister Edgar Ayales.

However, managers believe that, if it includes state banks would affect their performance and competitiveness, so they presented the objection.

“We have to make some modifications to clarify some of the items of the project, for example, that banks are not considered as part of the public sector, but the financial sector should be treated differently, but I have not seen the comment of them “said the chief.

Ayales the minister spoke yesterday to make adjustments to the plan of law, MEPs divide their support for this initiative.

The deputy (PAC) Gustavo Arias expressed reservations about the project.

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