The IMF Country Reports Series covers economic and financial developments and trends in member countries. Each report, prepared by a staff team after discussions with officials of the country, is published at the option of the member.
This report on the Observance of Standards and Codes on Fiscal Transparency on Costa Rica analyzes open budget preparation and assurances of integrity. A number of initiatives currently under way would further advance fiscal transparency. A clearer division of responsibilities for monetary and fiscal policies would require a strong commitment to recapitalizing fully the central bank. Policy responsibilities across general government institutions should be clarified and coordination improved. Internal audit processes should be strengthened to ensure the integrity of the financial management systems.