Costa Rica: Request for Stand-By Arrangement: Staff Report; Staff Supplement and Statement; Press Release on the Executive Board Discussion; and Statement by the Executive Director for Costa Rica
April 29, 2009
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This paper discusses the request from Costa Rica for a Stand-By Arrangement (SBA). The program seeks to enable an orderly adjustment of the Costa Rican economy to an adverse external environment, while mitigating its adverse effects on growth and household incomes. To strengthen the external position, the authorities have tightened monetary conditions and increased exchange rate flexibility. Fiscal policy will be geared toward mitigating the impact of the adjustment on domestic activity and the most vulnerable population. IMF financial support is intended to bolster investor confidence in the authorities’ policy framework.
Subject: Banking, Credit, Debt service, Economic sectors, External debt, Money, Public debt, Public sector
Keywords: Central America, CR, Credit, Debt service, depreciation expectation, expectation, financing, Fund credit, Global, inflation expectation, interest rate transmission mechanism, ISCR, larger-than-anticipated balance of payments shock, producer price inflation, Public sector
Pages:
82
Volume:
2009
DOI:
Issue:
134
Series:
Country Report No. 2009/134
Stock No:
1CRIEA2009001
ISBN:
9781451809695
ISSN:
1934-7685
