Costa Rica: Financial System Stability Assessment

International Monetary Fund

No 2003/103, IMF Staff Country Reports from International Monetary Fund

Abstract: This paper presents key findings of the Financial System Stability Assessment for Costa Rica. The Costa Rican financial system exhibits some immediate strengths deriving from an environment with limited historic volatility and a predominant state participation in financial intermediation. Nonetheless, important underlying macroeconomic and structural tensions could undermine the stability of the system in the event of a major shock, or compromise its medium-term sustainability should tensions continue to accumulate. Main sources of tension on the macroeconomic front are a large fiscal deficit and a high public debt as well as a high and rising dollarization.

Keywords: ISCR; CR; Banco de Costa Rica; bank rating scheme; bank supervision; assessment system; intervened bank; financial system; offshore bank; monetary policy; banking system; money market; public bank; State-owned banks; Offshore financial centers; Legal support in revenue administration; Payment systems; Commercial banks; Central America (search for similar items in EconPapers)
Pages: 56
Date: 2003-04-17
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Citations: View citations in EconPapers (5)

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