{
  "title": "Costa Rica: 2016 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Costa Rica",
  "publication": "IMF Staff Country Reports, May 23, 2016",
  "sourceUrl": "https://www.imf.org/en/publications/cr/issues/2016/12/31/costa-rica-2016-article-iv-consultation-press-release-staff-report-and-statement-by-the-43916",
  "canonical": "https://www.imf.org/en/publications/cr/issues/2016/12/31/costa-rica-2016-article-iv-consultation-press-release-staff-report-and-statement-by-the-43916",
  "overlayPath": "/en/publications/cr/issues/2016/12/31/costa-rica-2016-article-iv-consultation-press-release-staff-report-and-statement-by-the-43916/index.md",
  "summary": "This paper discusses key issues related to the economy of Costa Rica. It bounced back quickly from the global financial crisis; growth has moderated below trend and macro vulnerabilities, mainly from the weak fiscal position, are rising.",
  "sections": [
    {
      "heading": "Overview and main findings",
      "content": "- The paper discusses key issues related to the economy of Costa Rica.\n- Costa Rica \"bounced back quickly from the global financial crisis.\"\n- Growth has moderated below trend, with \"a third year of growth below potential\" resulting in \"a moderate output gap.\"\n- Macro vulnerabilities are rising, \"mainly from the weak fiscal position.\"\n- Policy actions have been \"broadly consistent with past IMF advice.\"\n- The central bank \"took advantage of the favorable shock from lower oil prices to reduce its inflation target range.\"\n- The exchange rate has been stable despite \"abandonment of band regime,\" and \"reserve accumulation has resumed strongly.\"\n- The external position is \"close to equilibrium,\" with competitiveness \"largely unchanged in 2014–15.\""
    },
    {
      "heading": "Policy assessment and implications",
      "content": "- Fiscal position\n  - Weak fiscal position is identified as the main source of rising macro vulnerabilities.\n  - Policy actions to date are characterized as broadly consistent with prior IMF advice (no specific measures detailed in the summary).\n- Monetary policy and inflation\n  - Central bank responded to lower oil prices by reducing its inflation target range.\n- Exchange rate and external sector\n  - Exchange rate stability has been maintained after abandoning the band regime.\n  - Reserve accumulation has resumed strongly.\n  - External position assessed as close to equilibrium; competitiveness largely unchanged in 2014–15.\n\n---\n\n Content in this bundle\n\n- Costa Rica: Selected IMF Staff Report\n  - Costa Rica: Selected IMF Staff Report (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - Costa Rica: Selected IMF Staff Report (PDF){rel=\"external\" type=\"application/pdf\"}"
    }
  ],
  "bullets": [
    "[Markdown version](/en/publications/cr/issues/2016/12/31/costa-rica-2016-article-iv-consultation-press-release-staff-report-and-statement-by-the-43916/index.md)",
    "[Structured JSON version](/en/publications/cr/issues/2016/12/31/costa-rica-2016-article-iv-consultation-press-release-staff-report-and-statement-by-the-43916/index.json)",
    "[Bundle manifest](/en/publications/cr/issues/2016/12/31/costa-rica-2016-article-iv-consultation-press-release-staff-report-and-statement-by-the-43916/bundle-manifest.json)",
    "Published: May 23, 2016",
    "Series: IMF Staff Country Reports",
    "DOI: https://doi.org/10.5089/9781475519228.002",
    "The paper discusses key issues related to the economy of Costa Rica.",
    "Costa Rica \"bounced back quickly from the global financial crisis.\"",
    "Growth has moderated below trend, with \"a third year of growth below potential\" resulting in \"a moderate output gap.\"",
    "Macro vulnerabilities are rising, \"mainly from the weak fiscal position.\"",
    "Policy actions have been \"broadly consistent with past IMF advice.\"",
    "The central bank \"took advantage of the favorable shock from lower oil prices to reduce its inflation target range.\"",
    "The exchange rate has been stable despite \"abandonment of band regime,\" and \"reserve accumulation has resumed strongly.\"",
    "The external position is \"close to equilibrium,\" with competitiveness \"largely unchanged in 2014–15.\"",
    "Fiscal position",
    "Monetary policy and inflation",
    "Exchange rate and external sector",
    "**Costa Rica: Selected IMF Staff Report**"
  ],
  "related": [
    {
      "title": "Costa Rica: Selected IMF Staff Report",
      "role": "document",
      "sourceUrl": "https://www.imf.org/-/media/websites/imf/imported-full-text-pdf/external/pubs/ft/scr/2016/_cr16131.pdf",
      "summary": {
        "path": "/-/media/websites/imf/imported-full-text-pdf/external/pubs/ft/scr/2016/_cr16131.pdf.md",
        "mime": "text/markdown"
      },
      "binary": {
        "path": "/-/media/websites/imf/imported-full-text-pdf/external/pubs/ft/scr/2016/_cr16131.pdf",
        "mime": "application/pdf"
      }
    }
  ],
  "alternates": {
    "markdown": "/en/publications/cr/issues/2016/12/31/costa-rica-2016-article-iv-consultation-press-release-staff-report-and-statement-by-the-43916/index.md",
    "json": "/en/publications/cr/issues/2016/12/31/costa-rica-2016-article-iv-consultation-press-release-staff-report-and-statement-by-the-43916/index.json",
    "bundleManifest": "/en/publications/cr/issues/2016/12/31/costa-rica-2016-article-iv-consultation-press-release-staff-report-and-statement-by-the-43916/bundle-manifest.json"
  },
  "generatedAtUtc": "2026-09-14T01:07:57.058Z"
}