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Central Bank

President of Legislative Assembly doesn’t see viability of Costa Rica’s IMF proposal

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 proposes tax measures as part of IMF negotiations

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

Costa Rica to propose fiscal adjustments before negotiations with IMF

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

Costa Rica asks IMF for assistance due to impacts of pandemic

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

Costa Rica temporarily withdraws 10 law projects to streamline IMF loan

The Costa Rican Presidency has withdrawn 10 law projects in an effort to streamline the path toward a $504 million loan from the International Monetary Fund. 

BCCR now predicts 5% fall in Costa Rica GDP for 2020

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.

IMF approves $504 million loan for Costa Rica amid coronavirus

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 economy will shrink 3.6% in 2020 due to COVID-19, according to Central Bank

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

Costa Rica meets with IMF to discuss financing options to face crisis

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.

Costa Rica to stop minting ₡5 coin

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

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