Central Bank

Critics of the Costa Rica's IMF proposal say it relies too heavily on new taxes rather than on other cost-saving measures. 

Costa Rica's negotiations with the IMF regarding the EFF are expected to begin later this month.

Costa Rica's negotiations with the IMF would begin in late September. 

Costa Rica requested financial assistance from the IMF for $1.75 billion.

The Costa Rican Presidency has withdrawn 10 law projects in an effort to streamline the path toward a $504 million loan from the International Monetary Fund. 

The figure would represent the country's largest fall since Costa Rica's economic crisis of the 1980s. It's a steeper decline than previously forecast and takes into account the ongoing effects of the crisis.

The IMF board on Wednesday approved $504 million in emergency financing for Costa Rica to help the Central American nation deal with the economic damage inflicted by the coronavirus pandemic.

Costa Rica's GDP is expected to decrease by 3.6% due to the COVID-19 pandemic.

Economic authorities in Costa Rica will meet with the International Monetary Fund (IMF) and ask for a line of financing that will allow it to face the financial blow caused by the coronavirus pandemic.

The Central Bank of Costa Rica (BCCR) announced Thursday that it will stop minting five-colón coins (₡5) at the end of this year.