VZCZCXYZ0003
PP RUEHWEB

DE RUEHSJ #0543 1792010
ZNR UUUUU ZZH
P 282010Z JUN 09
FM AMEMBASSY SAN JOSE
TO RUEHC/SECSTATE WASHDC PRIORITY 0989
INFO RUEHZA/WHA CENTRAL AMERICAN COLLECTIVE PRIORITY

UNCLAS SAN JOSE 000543 
 
SIPDIS 
 
DEPT FOR EEB/IFD/ODF; STATE PLEASE PASS TO 
OPIC:LTABERNACKI; STATE PLEASE PASS TO COMMERCE/FCS 
 
E.O. 12958: N/A 
TAGS: CS ECON EFIN PGOV PREL EINV
SUBJECT: COSTA RICA:  OPIC LOAN TO CSI LATINA FINANCIAL 
 
REF: STATE 61411 
 
¶1. SUMMARY: Embassy San Jose supports the Overseas Private 
Investment Corporation's (OPIC) proposal for a USD 20 million 
credit facility to CSI Latina Financial, Inc. (CSI).  The 
Econ 
and FCS Sections reviewed the proposal and concluded that 
there were no reasons that the loan should not proceed 
(reftel A).  END SUMMARY. 
 
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RECENT COUNTRY EVENTS 
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¶2.  The hand of the global economic crisis has touched 
Costa Rica primarily in the form of decreased economic 
activity and unemployment in select sectors of the economy, 
notably tourism, construction (particularly activity 
devoted to resort development, both residential and 
hospitality), and manufacturing.  In contrast to this 
trend, economic activity and employment in the areas of 
professional services and medical devices (development and 
assembly) continues apace.  Overall, the global crisis has 
dragged down the Costa Rican economy as demand in export 
markets contracted.  Predictions on gross domestic product 
growth for the year currently vary between 0 percent and 
downward to -1 or, at worst, -2 percent. 
 
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INFORMATION ON CSI 
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¶3.  CSI Leasing Centroamerica S.R.L. maintains operations in 
Costa Rica and is a member of the Costa Rican-American 
Chamber of Commerce (AmCham).  Embassy review of the company 
or its affiliate (CSI Leasing Polska sp. Zo.o.) did not 
produce any information linking 
the company and / or principals to terrorism, money 
laundering, corruption, or violations of law.  Though we do 
not have a relationship with this company, our research 
yielded no negative information regarding CSI Leasing 
Centroamerica S.R.L. 
 
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COMMENT 
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¶4. Similar to other ecnomices with strong links to the U.S. 
marker, credit markets 
did significantly tighten in Costa Rica since mid-2008. 
Thus, we support 
any assistance provided by OPIC that eases commercial and 
consumer credit in Cost Rica. 
BRENNAN