Javier Suárez, president of Davivienda Group, has highlighted the growing economic strain caused by the sustained appreciation of the Costa Rican colón against the US dollar.
The central bank's currency has strengthened consistently over the past four years, a trend that Suárez argues is now undermining the competitiveness of local businesses and complicating the broader economic outlook for the region.
The persistent strength of the colón creates a dual challenge for the domestic economy.
For exporters, a stronger local currency makes goods more expensive for foreign buyers, squeezing margins and reducing market share.
For the banking sector, which is heavily integrated with trade finance and cross-border lending, the shift alters risk profiles and can dampen loan growth in export-oriented industries.
Suárez's comments underscore a widening concern among regional executives that monetary policy and market forces are pushing the exchange rate beyond levels that support sustainable growth.