Costa Rica: Staff Report for the 2009 Article IV Consultation and First Review Under the Stand-By Arrangement; Press Release and Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for Costa Rica

International Monetary Fund

No 2009/303, IMF Staff Country Reports from International Monetary Fund

Abstract: Costa Rica’s economy has been hit hard by the global crisis, but active policies have helped preserve stability and mitigate the negative impact on growth. This 2009 Article IV Consultation highlights that despite the worsening of economic activity, the banking sector has remained sound. Although the nonperforming loan ratio of banks has risen moderately and profitability declined in the first half of 2009, liquidity and solvency indicators remained adequate. Fiscal policy has provided significant support to domestic demand.

Keywords: ISCR; CR; helping anchor inflation expectation; deficit; investor risk appetite; SDR; central government deficit; Costa Rican economy; IMF staff projection; balance of payments position; Government debt management; Public sector; Global; Central America (search for similar items in EconPapers)
Pages: 64
Date: 2009-10-16
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