de Seguridad Pública photo
Aerial photo displaying
the "zone of collapse" within the
cause some damage in Arenal area
A.M. Costa Rica staff
At least seven mudslides are along the road
connecting Nuevo Arenal and La Fortuna,
reports from the public works ministry
In addition to the mud, downed trees and
flooding are reported in the area, according
to a report from the emergency commission.
Public works confirmed that there were
obstructions on the road preventing passage.
The torrential downpours Wednesday night and
early Thursday morning caused the road
blockages and infrastructure damage,
according to the Comisión Nacional de
These storms forced the emergency commission
to put the canton of Tilarán on a yellow
alert Thursday afternoon.
The recommendations from the alert are for
the population in the affected areas to stay
off the roads and not attempt to drive, to
check one’s personal supplies of food and
water and alert officials immediately if
they are missing or lacking anything.
Emergency workers are considering the
possibility of setting up a temporary
shelter if needed, the Comisión said.
The greatest amount of damage is at Nuevo
Arenal, Viejo Arenal and Tilaradora,
emergency officials said.
So far, there have been no reports of
injured or missing persons coming from
The Comisión can confirm that there is
significant damage to property and livestock
in the area in addition to the public
de Obras Públicas y Transportes
tree at La Unión de Nuevo Arenal.
Some of the
roads affected by the storm include:
Ruta 142 that goes between Arenal
and La Fortuna, Ruta 926 between
Tronadora and Arenal and the Las
Minas bridge over the Río Chiquito
Crews from the Ministerio de Obras
Públicas y Transportes as well as the
Consejo Nacional de Vialidad are working
to clear the damage from the roads,
emergency workers are looking to provide
water to the more than 700 residences
who lost drinking water following damage
to an aqueduct at Tronadora. The municipality’s emergency
commission is surveying the area for
The Instituto Meteorológico de Costa
Rica forecasted that there will be heavy
rains expected to accumulate in
Guanacaste within the next few hours.
In the Central Valley, Zona Norte and
mountains in the Caribbean, rainfall
amounts will be between 40 to 70
millimeters between 3 to 6 hours.
“Particularly in Nuevo Arenal and
surrounding areas, there will be rains
of variable intensity and thunderstorm
until late at night accumulated between
30 to 50 millimeters from 3 to 6 hours,”
the Costa Rican weather service said in
a statement Thursday evening.
announces new exchange rate plan
A.M. Costa Rica staff
After several weeks on the rise, the
exchange rate had its first decrease
Thursday morning thanks to a new injection
of dollars by the Banco Central, which sold
$1 billion in the currency exchange market.
According to data provided by the bank, the
reference price for each dollar sold stood
at 587.47 colons during the morning. In
regards the average price for all other
banks, dollars were sold at 595 colons each
and bought at 585.56 colons.
During a press conference, Banco Central
also confirmed three new measures to keep
the exchange rate steady.
First of all, it will continue selling
dollars whenever required from its
$7.2 billion reserve. Secondly, the
bank announced it will intervene in the
currency market anytime during the day in
order to protect the exchange rate from
Finally, the monetary
policy rate was increased from 3 to 4
percent for the fourth time in the
|This allows commercial banks to
increase the interest rates for savings in
colones, making them more attractive for the
These measures seek to prevent any pressure
on the inflation rates and the consequent
hike in the prices of goods and services.
The central bank forecasts a maximum
inflation of 4 percent for 2017.
The shortage of dollars is attributed to a
macroeconomic incertitude from the Donald
Trump administration in the United States.
This has led many investors to secure their
funds by accumulating dollars.
Another reason, according to the bank, is an
increase in the amount of Costa Ricans who
prefer to keep their savings in dollars,
because the interest rates in colons are not
A third reason, provided by the bank, is the
increase in imported goods during the first
quarter of 2017, which also need to be paid