IMF to Close Resident Representative Office in Costa Rica

IMF News, August 11, 2025

Source details

The International Monetary Fund (IMF) has decided to close its Resident Representative Office in San José.
The office has been headed by Mr. Santiago Acosta-Ormaechea.
Closure is effective mid-October 2025.
Press Release No. 25/278
Publication date: August 11, 2025

The IMF opened the Resident Representative Office in July 2021 to support enhanced engagement after:
- Executive Board approval of an Extended Fund Facility (EFF) arrangement for Costa Rica in March 2021.
- Approval of a Resilience and Sustainability Facility (RSF) arrangement in November 2022.
Costa Rica successfully completed the EFF and RSF arrangements in June 2024.
Costa Rica currently has a two-year Flexible Credit Line (FCL) arrangement, approved in June 2025, granted by virtue of its very strong economic fundamentals and institutional policy frameworks.

The IMF will continue close cooperation with Costa Rica primarily through:
- Regular bilateral policy consultations.
- Capacity development, as with other IMF member countries.
Leadership of engagement will be provided:
- From IMF headquarters in Washington, D.C.
- Through the IMF’s Regional Resident Representative Office for Central America, Panama and the Dominican Republic, based in Guatemala.

IMF Communications Department
MEDIA RELATIONS
PRESS OFFICER: Meera Louis
Phone: +1 202 623-7100
Email: MEDIA@IMF.org
@IMFSpokesperson
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The Fund expressed appreciation to the Costa Rican authorities for their warm hospitality and generosity over the years.

Source: IMF press release, August 11, 2025.