Costa Rica:Third Review Under the Extended Arrangement Under the Extended Fund Facility, Request for an Arrangement Under the Resilience and Sustainability Facility, Request for Waiver of Nonobservance of Performance Criterion, and Monetary Policy Consultation

Author: International Monetary Fund. Western Hemisphere Dept.

Third Review Under the Extended Arrangement Under the Extended Fund Facility, Request for an Arrangement Under the Resilience and Sustainability Facility, Request for Waiver of Nonobservance of Performance Criterion, and Monetary Policy Consultation

Volume/Issue: Volume 2022 Issue 345

Publication date: November 2022

ISBN: 9798400226762

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Topics covered in this book

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Banks and Banking , Money and Monetary Policy , Public Finance , International - Economics , Environmental Economics , RSF arrangement , Costa Rican authorities , IMF Resilience and Sustainability Facility arrangement , decarbonization effort , inflation expectation , Climate change , Credit , International reserves , Global , Central America

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Summary

The new administration, which came into office in May 2022, has had to confront the aftermath of a cyberattack on several government systems as well as the impact of the commodity price shock, slowing trading partner growth, and tightening financial conditions. After a strong rebound in 2021, these global headwinds are weighing on activity. Meanwhile, as elsewhere, inflationary pressures are elevated.