This article is a synopsis on Costa Rica’s international spillovers, potential estimates, fiscal challenges, and banking systems. Spillovers are originated by cross-country trade and financial linkages, and also by the impact of global fiscal consolidation. The banking sector has about...

This paper discusses pilot fiscal transparency assessment for Costa Rica. The assessment confirmed that Costa Rica has various excellent and sophisticated fiscal transparency practices. Those include: (1) institutional coverage with annual consolidated budgetary information for the entire public...

This article is an analytical report of the economic developments of Costa Rica. The economy showed rapid growth in the aftermath of the global crisis with low inflation; but for further stable growth, certain policy frameworks and reforms need to be reinforced. The fiscal stance should be made...

The economy recovered quickly from the global crisis of 2008–09, with healthy growth and low inflation. Growth has, however, slowed recently and is expected to remain subdued in the short run, since gains from recovery in the U.S. will be offset by the closure of the Intel manufacturing...

The Costa Rican economy has grown at rapid rates in the last three years, underpinned by a robust world expansion, sound economic policies, and strong business and consumer confidence. Economic policies have been well oriented. The fiscal position has substantially improved. The exchange rate...

The 2010 staff report for the Third and Final Review Under the Stand-By Arrangement (SBA) reviews the economic performance of Costa Rica. The structural benchmarks related to the deposit insurance and bank resolution framework were delayed owing to a longer-than-expected consultation process....

Despite the oil price shock, growth has been high. Discussions focused on the policies needed to reduce Costa Rica’s vulnerabilities, enhance growth, and reduce poverty in a lasting way. Passage of a substantial tax reform is essential. To bring inflation down to low single digits, the...

This 2004 Article IV Consultation highlights that Costa Rica’s economic performance improved in 2003. Following several years of slow growth, real GDP rose by 51⁄2 percent, boosted by a recovery of exports and strong private investment. Inflation declined below 10 percent while unemployment...

This report on the Observance of Standards and Codes on Fiscal Transparency on Costa Rica analyzes open budget preparation and assurances of integrity. A number of initiatives currently under way would further advance fiscal transparency. A clearer division of responsibilities for monetary and...