Costa Rica: 2011 Article IV Consultation: Staff Report; Informational Annex; Public Information Notice, Press Release, and Statement by the Executive Director

International Monetary Fund

No 2011/161, IMF Staff Country Reports from International Monetary Fund

Abstract: The importance of safeguarding fiscal sustainability is outlined. Steps taken by authorities to improve the tax system are discussed. Implementation of the financial sector assessment program (FSAP) is welcomed. The importance of securing approval of the legislation to enhance consolidated supervision, establish a deposit insurance system, and strengthen the resolution framework is highlighted. The economic program supported by the precautionary Stand-By Arrangement had successfully met its immediate objective of supporting macroeconomic stability at a time of global financial turmoil. The authorities' fiscal program resulted in a gradual decline in the fiscal deficit.

Keywords: ISCR; CR; IMF mission; deficit; FDI inflow; tax administration measure; IMF's executive board; inflation expectation; expenditure policy; Public sector; Inflation; Global; Central America (search for similar items in EconPapers)
Pages: 58
Date: 2011-07-05
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