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,...

This paper discusses Costa Rica's 2023 Article IV Consultation, Fifth Review under the Extended Arrangement under the Extended Fund Facility (EFF), Second Review under the Resilience and Sustainability Facility (RSF), and Request for Modification of Reform Measure. Costa Rica is reaping the...

This paper discusses Costa Rica's Fourth Review under the Extended Arrangement under the Extended Fund Facility (EFF), First Review under the Resilience and Sustainability Arrangement, Request for Modification of Reform Measure under the Resilience and Sustainability Facility (RSF), and Monetary...

The importance of safeguarding fiscal sustainability is outlined. Steps taken by authorities to improve the tax system are discussed. Implementation of the financial sector assessment program (FSAP) is welcomed. The importance of securing approval of the legislation to enhance consolidated...

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 plant....

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,...