IMF Staff Country Reports

Costa Rica: 2011 Article IV Consultation: Staff Report; Informational Annex; Public Information Notice, Press Release, and Statement by the Executive Director

Publication Date:

July 5, 2011

Electronic Access:

Free Download. Use the free Adobe Acrobat Reader to view this PDF file

Summary:

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 supervision, establish a deposit insurance system, and strengthen the resolution framework is highlighted. The economic program supported by the precautionary Stand-By Arrangement had successfully met its immediate objective of supporting macroeconomic stability at a time of global financial turmoil. The authorities' fiscal program resulted in a gradual decline in the fiscal deficit.

Series:

Country Report No. 2011/161

Subject:

Economic sectors Expenditure External debt Inflation Prices Public debt Public sector