{
  "title": "Costa Rica: Selected Issues and Analytical Notes",
  "publication": "IMF Staff Country Reports, June 27, 2017",
  "sourceUrl": "https://www.imf.org/en/publications/cr/issues/2017/06/27/costa-rica-selected-issues-and-analytical-notes-44992",
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  "summary": "This Selected Issues paper describes Costa Rica’s vulnerability to potential policy changes in the United States after the November 2016 presidential election and its effects on Central America.",
  "publishDate": "2017-06-27",
  "series": "IMF Staff Country Reports",
  "sections": [
    {
      "heading": "Summary",
      "content": "- This Selected Issues paper describes Costa Rica’s vulnerability to potential policy changes in the United States after the November 2016 presidential election and its effects on Central America.\n- In the near term, the most likely US policy shift is a change in the macroeconomic policy mix, involving an expansionary fiscal policy—implemented initially through tax cuts—and a tighter than previously expected monetary policy stance.\n- The results suggest that Costa Rica could be more affected through the foreign direct investment and trade channels, unlike the rest of Central America, where remittances and immigration play a key role."
    },
    {
      "heading": "Near-term US policy shift (scenario and channels)",
      "content": "- Scenario: A change in the US macroeconomic policy mix consisting of:\n  - expansionary fiscal policy, implemented initially through tax cuts\n  - a tighter than previously expected monetary policy stance\n- Implications for Costa Rica:\n  - Greater exposure via the foreign direct investment (FDI) channel\n  - Greater exposure via trade channels\n- Contrast with the rest of Central America:\n  - Other Central American countries are more affected through remittances and immigration channels"
    },
    {
      "heading": "Key thematic coverage (subjects and keywords)",
      "content": "- Subject areas listed:\n  - Banking\n  - Countercyclical capital buffers\n  - Credit\n  - Credit gaps\n  - Expenditure\n  - Financial regulation and supervision\n  - Financial sector policy and analysis\n  - Income\n  - Money\n  - National accounts\n  - Pension spending\n- Keywords provided:\n  - accession process\n  - agriculture productivity\n  - bank\n  - Central America\n  - Countercyclical capital buffers\n  - CR\n  - Credit\n  - Credit gaps\n  - electricity generation\n  - FDI channel\n  - FDI scenario\n  - Global\n  - Income\n  - ISCR\n  - LPI score\n  - NAFTA agreement\n  - Pension spending\n  - power generation capacity\n  - road infrastructure\n\n---\n\n Content in this bundle\n\n- Country Report\n  - Country Report (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - Country Report (PDF){rel=\"external\" type=\"application/pdf\"}\n\n---\n\nSource: https://www.imf.org/en/publications/cr/issues/2017/06/27/costa-rica-selected-issues-and-analytical-notes-44992"
    }
  ],
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    "Published: June 27, 2017",
    "Series: IMF Staff Country Reports",
    "DOI: https://doi.org/10.5089/9781484304563.002",
    "This Selected Issues paper describes Costa Rica’s vulnerability to potential policy changes in the United States after the November 2016 presidential election and its effects on Central America.",
    "In the near term, the most likely US policy shift is a change in the macroeconomic policy mix, involving an expansionary fiscal policy—implemented initially through tax cuts—and a tighter than previously expected monetary policy stance.",
    "The results suggest that Costa Rica could be more affected through the foreign direct investment and trade channels, unlike the rest of Central America, where remittances and immigration play a key role.",
    "Scenario: A change in the US macroeconomic policy mix consisting of:",
    "Implications for Costa Rica:",
    "Contrast with the rest of Central America:",
    "Subject areas listed:",
    "Keywords provided:",
    "**Country Report**"
  ],
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