Costa Rica: Recent Economic Developments

International Monetary Fund

No 1998/045, IMF Staff Country Reports from International Monetary Fund

Abstract: This paper reviews economic developments in Costa Rica during 1995–97. Costa Rica faced a slump in economic activity in 1995–96 following a sharp deterioration in the public finances and higher inflation associated with the 1993–94 political–economic cycle. To avert a balance-of-payments crisis in early 1995, the authorities increased interest rates, imposed temporary import surcharges, and raised excise taxes, while tightening expenditure and shifting some outlays to 1996. The economy went into a recession in 1996, with private investment declining for a third consecutive year.

Keywords: ISCR; CR; debt; state bank; government; deficit; government payment; pension regime; government ministry; legal reserve; Banco Nacional de Costa Rica; B. debt structure; Public sector; Real interest rates; Domestic debt; Sovereign bonds; Commercial banks; Central America; Asia and Pacific (search for similar items in EconPapers)
Pages: 90
Date: 1998-06-04
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