Costa Rica: Fourth Review Under the Extended Arrangement Under the Extended Fund Facility, First Review Under the Resilience and Sustainability Arrangement, Request for Modification of Reform Measure Under the Resilience and Sustainability Facility, and Monetary Policy Consultation-Press Release; and Staff Report

International Monetary Fund

No 2023/231, IMF Staff Country Reports from International Monetary Fund

Abstract: This paper discusses Costa Rica’s Fourth Review under the Extended Arrangement under the Extended Fund Facility (EFF), First Review under the Resilience and Sustainability Arrangement, Request for Modification of Reform Measure under the Resilience and Sustainability Facility (RSF), and Monetary Policy Consultation. Program performance under both the EFF and the RSF remains strong. All performance criteria and indicative targets have been met for the fourth review of the EFF. Inflation exceeded the outer band of the Monetary Policy Consultation Clause in December 2022, triggering a Board consultation, but has been on a strong downward trend, returning to the central bank’s tolerance band in April. Implementation of most structural reforms is on track. Progress on implementing the Public Employment Bill has been slower than anticipated but the single wage spine has been put in place for one quarter of executive branch positions, meeting the prior action for this review.

Keywords: staff appraisal; central bank of Costa Rica; staff representative; IMF Resilience and Sustainability Facility arrangement; RSF arrangement; Inflation; Credit; International reserves; Fiscal stance; Global; Central America (search for similar items in EconPapers)
Pages: 125
Date: 2023-06-27
References: Add references at CitEc
Citations:

Downloads: (external link)
http://www.imf.org/external/pubs/cat/longres.aspx?sk=535337 (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:imf:imfscr:2023/231

Ordering information: This working paper can be ordered from
http://www.imf.org/external/pubs/pubs/ord_info.htm

Access Statistics for this paper

More papers in IMF Staff Country Reports from International Monetary Fund International Monetary Fund, Washington, DC USA. Contact information at EDIRC.
Bibliographic data for series maintained by Akshay Modi ().