Costa Rica: First and Second Reviews Under the Extended Arrangement Under the Extended Fund Facility, Request for Extension of the Arrangement, and Rephasing of Purchases-Press Release; Staff Report; and Statement by the Executive Director for Costa R

Costa Rica: First and Second Reviews Under the Extended Arrangement Under the Extended Fund Facility, Request for Extension of the Arrangement, and Rephasing of Purchases-Press Release; Staff Report; and Statement by the Executive Director for Costa Rica
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Volume/Issue: Volume 2022 Issue 093
Publication date: March 2022
ISBN: 9798400205897
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Topics covered in this book

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Banks and Banking , Economics- Macroeconomics , Money and Monetary Policy , Public Finance , International - Economics , Environmental Economics , Costa Rican authorities , EFF arrangement , transparency policy , exchange market operation , IMF staff estimate , EFF program , economic reform reform program , Climate change , International reserves , Credit , Global , Central America

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Summary

On March 1, 2021, the IMF Executive Board approved a 36-month arrangement under the Extended Fund Facility (EFF) with access of SDR 1.23749 billion (335 percent of quota, equivalent to US$1.778 billion) to support the country’s response to the pandemic and its reform efforts toward strong, inclusive, and sustainable growth. The authorities’ proactive response to the COVID-19 crisis, combined with sustained export performance, have supported a robust recovery. The outlook remains subject to downside risks, amid tighter global financial conditions, higher commodity prices, and the threat of new COVID variants.