Costa Rica: 2016 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Costa Rica

May 23, 2016

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Format: Chicago

Costa Rica: 2016 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Costa Rica, (USA: International Monetary Fund, 2016) accessed November 21, 2024

Summary

This paper discusses key issues related to the economy of Costa Rica. It bounced back quickly from the global financial crisis; growth has moderated below trend and macro vulnerabilities, mainly from the weak fiscal position, are rising. Policy actions have been broadly consistent with past IMF advice. A third year of growth below potential has resulted in a moderate output gap. The central bank took advantage of the favorable shock from lower oil prices to reduce its inflation target range. The exchange rate has been stable despite abandonment of band regime, and reserve accumulation has resumed strongly. The external position is close to equilibrium, with competitiveness largely unchanged in 2014–15.

Subject: Banking, Economic sectors, Expenditure, Fiscal consolidation, Fiscal policy, Fiscal stance, Public debt, Public sector

Keywords: Authorities' effort, Caribbean, Central America, Central bank, Costa Rican authorities, CR, Exchange rate, Fiscal consolidation, Fiscal stance, Global, Government package, ISCR, Monetary policy, Public sector, Real GDP data, XR regime

Publication Details

Pages:

90
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2016/131
Stock No:

1CRIEA2016001
ISBN:

9781475519228
ISSN:

1934-7685

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