Costa Rican pension funds are in desperate need of more local investable securities, according to senior bankers in San José.
“The pension funds are in a hard place at the moment – there isn’t enough for them to invest in here and so most of the money is leaving Costa Rica and being invested in US treasuries,” says Ernesto Castegnaro, president of BAC Credomatic.
One of the problems facing the country’s pension funds is a lack of government bonds.
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