Costa Rica: Request for Stand-By Arrangement: Staff Report; Staff Supplement and Statement; Press Release on the Executive Board Discussion; and Statement by the Executive Director for Costa Rica

International Monetary Fund

No 2009/134, IMF Staff Country Reports from International Monetary Fund

Abstract: This paper discusses the request from Costa Rica for a Stand-By Arrangement (SBA). The program seeks to enable an orderly adjustment of the Costa Rican economy to an adverse external environment, while mitigating its adverse effects on growth and household incomes. To strengthen the external position, the authorities have tightened monetary conditions and increased exchange rate flexibility. Fiscal policy will be geared toward mitigating the impact of the adjustment on domestic activity and the most vulnerable population. IMF financial support is intended to bolster investor confidence in the authorities’ policy framework.

Keywords: ISCR; CR; inflation expectation; producer price inflation; expectation; financing; Fund credit; larger-than-anticipated balance of payments shock; depreciation expectation; interest rate transmission mechanism; Public sector; Credit; Debt service; Global; Central America (search for similar items in EconPapers)
Pages: 82
Date: 2009-04-29
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