Costa Rica did it better than our Co-op. But …
Publicly-owned banks In Costa Rica have worked very well for the last 64 years, said Scott Bidstrup on the US website, Truthout. First started in 1949, they have remained in public hands ever since, despite of enormous pressure by the I.M.F. [International Monetary Fund] and the U.S. to privatise them. Some of the smaller ones caved in, but the four state banks, competing fiercely between each other, are so stable that 80% of Costa Ricans use them.
The Banco Nacional, Banco de Costa Rica and Banco Crédito Agrícola de Cartago are all state-owned, though the Banco Popular belongs in principle to all Costa Rican workers.
Image: © Shutterstock
