Today Treasury paid $ 260 million Eurobond holders

The Treasury Department will make payment of a total of $ 250 million in principal and $ 10.1 million of interest, to holders of ten year Eurobonds marked for maturity in 2012. At the time of issue the bonds were used to reduce Costa Rica’s obligations to the International Monetary Fund to $4.6 billion. Finance experts are predicting a temporary devaluation in the dollar as more than half of the bond holders are believed to be Costa Rican, and the much of the payment is expected to find its way back to Costa Rica.