18 March 2020 – Government instructs state commerical banks to readjust loans

Type of Intervention: Executive Order
Sectors Involved: Finance/Economy
Level of Jurisdiction: National
Lead People/Agency: The President and the Treasury

Overview: Guideline to public banks to provide temporary relief to debt and solvency. The President and Ministry of Treasury urged commercial banks to take all necessary and effective measures to achieve a readjustment of loans, without exposing the optimal operation of the bank. They urged the following measures: Decrease in interest rates, an extension of the term of the credits, extension in the payment of the principal and/or interest and extraordinary payments to the principal amount without penalty.
Full details here: https://www.presidencia.go.cr/comunicados/2020/03/gobierno-instruye-a-los-bancos-comerciales-del-estado-a-readecuar-los-creditos/

Other links: 1
Type of Justification: No justification given