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

July 5, 2011

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Format: Chicago

Costa Rica: 2011 Article IV Consultation: Staff Report; Informational Annex; Public Information Notice, Press Release, and Statement by the Executive Director, (USA: International Monetary Fund, 2011) accessed November 30, 2024

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.

Subject: Economic sectors, Expenditure, External debt, Inflation, Prices, Public debt, Public sector

Keywords: Central America, CR, Deficit, Expenditure policy, FDI inflow, Global, IMF mission, IMF's executive board, Inflation, Inflation expectation, ISCR, Public sector, Tax administration measure

Publication Details

Pages:

58
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2011/161
Stock No:

1CRIEA2011002
ISBN:

9781455291670
ISSN:

1934-7685

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