The third stage of European Economic and Monetary Union (EMU) was implemented in January 1999 against the specter of persistently high unemployment in many of the participating countries. While the high European unemployment has received considerable attention, this new IMF staff study analyzes...

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 USD 1.778 billion) to support the country's response to the pandemic and its reform efforts toward strong,...

Costa Rica has been hit hard by the COVID-19 pandemic, notwithstanding the authorities' proactive policy response and the country's well-established universal healthcare system. The socio-economic impact has been significant, exacerbating an already fragile outlook and pre-existing imbalances,...

A technical assistance (TA) mission, conducted by CAPTAC-DR, took place during August 27 to September 7, in San Jose, Costa Rica, to assist the Central Bank of Costa Rica (CBCR) in compiling the non-financial and financial balance sheets. This TA mission was requested in the context of the...

This paper states Costa Rica's Request for Purchase Under the Rapid Financing Instrument (RFI). The coronavirus disease 2019 pandemic has severely impacted Costa Rica with its large exposure to trade, tourism, and foreign direct investment. The global economic slowdown and the necessary...

This 2017 Article IV Consultation highlights the growth of Costa Rica's economy at its estimated trend rate of about 4.25 percent and an essentially closed output gap. Headline inflation turned positive again in the second half of 2016 and is rising moderately, with both headline and core...