Financial regulators seek to provide education on money to Costa Ricans

The financial life of Costa Ricans has gotten more complex because of the private firms that have entered the insurance and telecom market. In addition, there are more programs being offered by credit companies and banks.

The agencies that are involved in the financial sector are planning to create programs that will make Costa Ricans more savvy shoppers, buyers and even investors. They are seeking to create a financial culture in the country, they said.

One step is a forum to discuss what they might do. That will be at 8:30 a.m. Wednesday at the Colegio de Ciencias Económicas, in San Pedro.  José Alexandre Cavalcanti, the superintendent of investor protection in Brazil will be a guest.

Attendees will seek to outline a proposal for creating a national strategy to provide financial education. Also attending will be  Cynthia Zapata, director of the Comisión Nacional del Consumidor.

A representative of the Ministerio de Educación Pública also will attend. Typically such programs begin in the elementary and high school classes.

Costa Ricans face high interest lenders, including credit card companies where the annual rate may exceed 50 percent.

An unsecured bank loan may be in the high 40s.

The country does have publicly traded corporations and a stock market but some of the big ones are registered in other countries.

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