IMF Staff Country Reports

Costa Rica: Financial System Stability Assessment

April 17, 2003

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International Monetary Fund. Monetary and Capital Markets Department "Costa Rica: Financial System Stability Assessment", IMF Staff Country Reports 2003, 103 (2003), accessed November 21, 2024, https://doi.org/10.5089/9781451809640.002

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Summary

This paper presents key findings of the Financial System Stability Assessment for Costa Rica. The Costa Rican financial system exhibits some immediate strengths deriving from an environment with limited historic volatility and a predominant state participation in financial intermediation. Nonetheless, important underlying macroeconomic and structural tensions could undermine the stability of the system in the event of a major shock, or compromise its medium-term sustainability should tensions continue to accumulate. Main sources of tension on the macroeconomic front are a large fiscal deficit and a high public debt as well as a high and rising dollarization.

Subject: Banking, Commercial banks, Financial institutions, Financial markets, Financial services, Legal support in revenue administration, Offshore financial centers, Payment systems, Revenue administration, State-owned banks

Keywords: Assessment system, Banco de Costa Rica, Bank rating scheme, Bank supervision, Banking system, Central America, Commercial banks, CR, Financial system, Intervened bank, ISCR, Legal support in revenue administration, Monetary policy, Money market, Offshore bank, Offshore financial centers, Payment systems, Public bank, State-owned banks

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