Finance union affiliates in Costa Rica have raised concerns over the possible sale of Banco de Costa Rica following statements by President Laura Fernández about privatization plans. The unions argue that claims of mismanagement or corruption are being used to justify a sale that could transfer a key public asset to private interests.
The affiliates warn that privatizing BCR could undermine the bank's role in supporting financial inclusion, local development, pensions, community enterprises, emergency responses, and student grants. They say that a private buyer would not prioritize these public functions, potentially harming Costa Rica’s social and economic model.
Unions have called on the Legislative Assembly to prevent any sale that benefits a small elite while weakening the state’s influence in the economy. Worker groups have emphasized that privatization would not resolve underlying fiscal or structural issues and that public banking profits serve the population in ways private banks do not.
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