Costa Rica: 2023 Article IV Consultation, Fifth Review Under the Extended Arrangement Under the Extended Fund Facility, Second Review Under the Resilience and Sustainability Facility, and Request for Modification of Reform Measure

Author: International Monetary Fund. Western Hemisphere Dept.

Volume/Issue: Volume 2023 Issue 442

Publication date: December 2023

ISBN: 9798400261930

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Topics covered in this book

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Finance , Inflation , Economics- Macroeconomics , Money and Monetary Policy , Business and Economics - Statistics , International - Economics , Environmental Economics , RSF arrangement , FX operations , IMF Resilience and Sustainability Facility arrangement , climate change resilience recovery , headline inflation , decarbonization effort , Climate change , External sector statistics , Government finance statistics , Inflation , Central America , Global , Caribbean

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Summary

Costa Rica is reaping the benefits from the home-grown reform program that has been implemented since 2021 and enabled the country to restore confidence in its policy frameworks, withstand multiple external shocks, and push forward key reforms. Despite strong growth, inflation has fallen sharply. International reserves are on an upward path and public debt is falling.