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jimvignola

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About jimvignola

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  1. Approaching the fortnight, the big transnational companies generally change dollars to pay taxes and salaries, and that affects the market, lowering the price of the currency. Doesn't that mean that say Intel brought dollars to CR and gets more colones than usual and thus can either claim a higher profit sending excess home or hire more workers or buy another building, etc ...so good for CR??
  2. Poor translation ... Central Bank: "Dollar fall due to economic factors" Rodrigo Bolaños said have not yet defined when used new model of intervention in the market, announced on Wednesday The fall in the exchange rate of the dollar of almost 30 ¢, which occurred this morning, due to seasonal factors related to the expiration of tax payments, said this morning the Central Bank President Rodrigo Bolaños. Approaching the fortnight, the big transnational companies generally change dollars to pay taxes and salaries, and that affects the market, lowering the price of the currency. The Bank is the expectation that this reversal in trend also generate a reversal in behavior that has been observed since principo year, reducing the rate of increase in the exchange rate. Since mid-January, the currency gained 60 ¢. However, Bolaños is clear that the dollar should not come back to ¢ 500, where he parked the last year. "Any devaluation has to stay because it responds to longer-term factors such as the withdrawal of monetary stimulus in the United States," said the chief. Bolaños convened press conference this morning to explain the new model of intervention in the exchange market, which aims to correct deviations in the long-term trends toward the price of the currency. The recent behavior in the foreign exchange market (increase) is presented, according to Bolaños, by an expectation of economic agents that maintained the exchange rate of increase, motivating an inertial behavior of macro price. The sharp increase in the price of the currency made ​​the Central created this new model called "interday" to adjust the exchange rate to the long-term trend when detached. So far, the bank has been intervening "intraday" when the price had "violent" and variations in recent weeks, has sold more than $ 300 million to stabilize the price. Bolaños said they are not planning to use the new system in the current situation, but it is a necessary tool in order to step the system of managed floating. These interventions "INTER" will be approved by events, not daily, but will have a larger budget. However, both the criteria used by the Bank to approve the budget as are confidential, said the chief. TAGS: Exchange , Central Bank , Dollar ,
  3. I noticed that coffee futures have increased quite a bit recently. Related? http://advisorperspectives.com/dshort/charts/index.html?guest/2014/CK-140313-Fig-1.jpg
  4. What was interesting last week while in CR was what I paid where ... I got great deals at the dentist (10% off $36 cleaning priced in colones), on taxis and at lunch and dinner at local restaurants (paid in colones gave me a 10% better deal at 550 vs 500) but I had to pay in dollars at the B&B and in dollars for the exit tax at the airport. I guess the secret at a time like now is to negotiate all your expenses in colones.
  5. At the ARCR seminar they mentioned import duties make up 50% of Costa Rica's (tax?) revenue which explain why it is such a big part of the expat with stuff to bring life. I was wondering what effect exchange rates had on that equation. Are the import duties valuated and paid in dollars? If in dollars, wouldn't say a $20,000 car imported from the US generate more colones tax revenue at 600 than 500?
  6. It appears they borrow each year to cover their deficit with the interest on the debt eating away more and more of the operating budget (See US)
  7. CR taxes and revenue for reference http://www.costaricaweb.com/business/cindetaxes.htm http://en.wikipedia.org/wiki/Public_Finances_in_Costa_Rica Balance sheet http://www.imf.org/external/pubs/ft/gfs/yearbook/2008/gfsy08.pdf Background http://insidecostarica.com/2013/09/23/moodys-warns-costa-rica-time-running-fiscal-reform/
  8. I thought I remember the CAJA hired a number of nurses a few years back when unemployment was high as part of a full employment program that bankrupted the CAJA. So, the salaries were not high. There were just too many unneeded employees. I am guessing that is the problem with many governments of having too many people on the payroll. a side note ... my Tico neighbor was commenting he does not know where all the money is coming from ... when he returns to CR, he said he is seeing more and more cars each year and many of them are luxury brands .....
  9. Curious ... anyone see a pie chart on where the national income comes from and where it is spent?
  10. I am interested in hearing your opinions ... I won't be investing in CR (house, car, business) until I am sure they are stable. It seems that Expats think they are important but they appear to make up a very small percent of the population and many of those are not legal and could pick up and leave at any time. So, I agree any hope that expats would close the budget will be a failure. Now, I am guessing there is a lot of property owned by foreigners (luxury tax) who do not live in CR that might have some potential since those owners can not extract their property easily and have no political influence. They would make better targets but that will cause an outflow of capital and a depression of real estate prices. Personally, I am optimistic for CR since their financial problems appear to be mismanagement and inefficiency which can be solved easier than other problems. I am guessing as they tighten on the banks and encourage electronic payments there will be fewer places for tax evaders to hide thus increasing tax collections.
  11. We are all going to die. It is inevitable. That is why you need to suck the marrow out of life and worry less about these things. Future generation will have their hands full. Go enjoy that ocean and beach before they are gone.
  12. God, give me grace to accept with serenity the things that cannot be changed, Courage to change the things which should be changed, and the Wisdom to distinguish the one from the other.
  13. These will restore your faith in humanity. http://www.dailymail.co.uk/news/article-1353330/Egypt-protests-Christians-join-hands-protect-Muslims-pray-Cairo-protests.html http://www.islamophobiatoday.com/2013/08/20/swedes-don-headscarves-to-support-muslim-victim/
  14. I do not know if they are legal in CR but many folks use composting toilets when water is limited or there is no sewage available. http://en.wikipedia.org/wiki/Composting_toilet One marketing video http://www.youtube.com/watch?v=dFBOwYyUlQw&list=PL12509AFF64394B53
  15. Snake-bite victim socked with $55K bill http://news.yahoo.com/blogs/sideshow/snake-bite-victim-socked-with--55k-bill-150152873.html
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