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Costa Rica
			: Request for Purchase Under the Rapid Financing Investment-Press Release; Staff Report; and Statement by the Executive Director for Costa Rica

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Costa Rica : Request for Purchase Under the Rapid Financing Investment-Press Release; Staff Report; and Statement by the Executive Director for Costa Rica »

Volume/Issue: 2020/145

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. Western Hemisphere Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 May 2020

DOI: http://dx.doi.org/10.5089/9781513542690.002

ISBN: 9781513542690

Keywords: Rapid Financing Instrument (RFI), Balance of payments, Exchange rate policy, Financial crises, Macroprudential policies and financial stability, Credit, ISCR, CR, pandemic, percent of GDP

Costa Rica has been hit hard by the Covid-19 pandemic, owing to its highly open economy that has large exposures to trade, tourism, foreign direct investment, and global supply chains. Tourism exports, which accoun...

The More the Merrier? A Machine Learning Algorithm for Optimal Pooling of Panel Data

The More the Merrier? A Machine Learning Algorithm for Optimal Pooling of Panel Data »

Volume/Issue: 2020/44

Series: IMF Working Papers

Author(s): Marijn Bolhuis , and Brett Rayner

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 28 February 2020

DOI: http://dx.doi.org/10.5089/9781513529974.001

ISBN: 9781513529974

Keywords: Economic models, Production growth, Developing countries, Emerging markets, Data analysis, Machine learning, GDP growth, forecasts, panel data, pooling.

We leverage insights from machine learning to optimize the tradeoff between bias and variance when estimating economic models using pooled datasets. Specifically, we develop a simple algorithm that estimates the si...

Monetary Policy Transmission in Emerging Markets and Developing Economies

Monetary Policy Transmission in Emerging Markets and Developing Economies »

Volume/Issue: 2020/34

Series: IMF Working Papers

Author(s): Luis Brandao-Marques , R. Gelos , Thomas Harjes , Ratna Sahay , and Yi Xue

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 21 February 2020

DOI: http://dx.doi.org/10.5089/9781513529738.001

ISBN: 9781513529738

Keywords: Financial and Monetary Sector, Central bank independence, Nominal effective exchange rate, Monetary policy instruments, Exchange rate policy, Monetary Policy, Emerging markets, Exchange rate channel, Inflation targeting, Financial structure

Central banks in emerging and developing economies (EMDEs) have been modernizing their monetary policy frameworks, often moving toward inflation targeting (IT). However, questions regarding the strength of monetary...

Intervention Under Inflation Targeting--When Could It Make Sense?

Intervention Under Inflation Targeting--When Could It Make Sense? »

Volume/Issue: 2020/9

Series: IMF Working Papers

Author(s): David Hofman , Marcos Chamon , Pragyan Deb , Thomas Harjes , Umang Rawat , and Itaru Yamamoto

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 17 January 2020

DOI: http://dx.doi.org/10.5089/9781513526027.001

ISBN: 9781513526027

Keywords: Central banks, Exchange rate policy, Central bank policy, Exchange markets, Central banking and monetary issues, emerging markets, monetary and exchange rate policies, inflation targeting, foreign exchange intervention, capital flows

We investigate the motives inflation-targeting central banks in emerging markets may have for intervening in foreign exchange markets and evaluate the case for such interventions based on the existing literature. O...

Impacts of Labor Market Institutions and Demographic Factors on Labor Markets in Latin America

Impacts of Labor Market Institutions and Demographic Factors on Labor Markets in Latin America »

Volume/Issue: 2019/155

Series: IMF Working Papers

Author(s): Adriana Kugler

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 17 July 2019

DOI: http://dx.doi.org/10.5089/9781484393840.001

ISBN: 9781484393840

Keywords: Labor market institutions, Labor market regulations, Labor market reforms, Labor productivity, Labor taxes, labor demographics, inequality, Latin America., EPL, payroll tax

This paper documents recent labor market performance in the Latin American region. The paper shows that unemployment, informality, and inequality have been falling over the past two decades, though still remain hig...

Costa Rica
			: 2019 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Costa Rica

Costa Rica : 2019 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Costa Rica »

Volume/Issue: 2019/101

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. Western Hemisphere Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 13 April 2019

DOI: http://dx.doi.org/10.5089/9781498310826.002

ISBN: 9781498310826

Keywords: External sector, Central banks, Fiscal policy, Credit, Monetary policy, fiscal reform, unhedged, percent, percent of GDP, WEO

This 2019 Article IV Consultation highlights that Costa Rican government recognizes the challenges and is planning a broad array of measures, although the political and social environment remains difficult. The Con...

Costs of Sovereign Defaults: Restructuring Strategies, Bank Distress and the Capital Inflow-Credit Channel

Costs of Sovereign Defaults: Restructuring Strategies, Bank Distress and the Capital Inflow-Credit Channel »

Volume/Issue: 2019/69

Series: IMF Working Papers

Author(s): Tamon Asonuma , Marcos Chamon , Aitor Erce , and Akira Sasahara

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 25 March 2019

DOI: http://dx.doi.org/10.5089/9781498303255.001

ISBN: 9781498303255

Keywords: Sovereign debt restructuring, Business cycles, Capital inflows, Domestic debt, Current account deficits, Sovereign Debt, Sovereign Defaults, Sovereign Debt Restructurings, GDP Growth, Investment

Sovereign debt restructurings are associated with declines in GDP, investment, bank credit, and capital flows. The transmission channels and associated output and banking sector costs depend on whether the restruct...

Excerpt: Paving the Way to Sustained Growth and Prosperity in Central America, Panama, and the Dominican Republic

Excerpt: Paving the Way to Sustained Growth and Prosperity in Central America, Panama, and the Dominican Republic »

Series: Miscellaneous Publication (Other)

Author(s): International Monetary Fund. Western Hemisphere Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 23 July 2018

DOI: http://dx.doi.org/10.5089/9781484370315.073

ISBN: 9781484370315

This is an excerpt from Paving the Way to Growth and Prosperity in Central America, Panama, and the Dominican Republic edited by Kimberly Beaton, Roberto Garcia Saltos, and Lorenzo Figliuoli. Over the past three de...

How to Operationalize Gender Issues in Country Work

How to Operationalize Gender Issues in Country Work »

Volume/Issue: 2018/031

Series: Policy Papers

Author(s): International Monetary Fund. Strategy, Policy, & Review Department

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 13 June 2018

DOI: http://dx.doi.org/10.5089/9781498309011.007

ISBN: 9781498309011

Keywords: Total factor productivity, Labor force participation, Labor market reforms, Manpower training, Financial management information systems, gender gap, gender inequality, gender issue, article IV, article IV consultation

"Reducing gender gaps can have important economic benefits. Gender gaps remain significant on a global scale, both with respect to opportunities and outcomes. For example, gender-based legal restrictions in many pa...

Costa Rica
			: Technical Assistance Report-Revenue Administration Gap Analysis Program-Tax Gap Analysis for General Sales and Corporate Income Tax

Costa Rica : Technical Assistance Report-Revenue Administration Gap Analysis Program-Tax Gap Analysis for General Sales and Corporate Income Tax »

Volume/Issue: 2018/124

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. Fiscal Affairs Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 29 May 2018

DOI: http://dx.doi.org/10.5089/9781484356777.002

ISBN: 9781484356777

Keywords: Revenue administration, Sales taxes, Corporate income taxes, Tax revenues, Technical Assistance Reports, Costa Rica

This Technical Assistance Report presents the estimates of tax gaps for general sales tax (GST) and corporate income tax in Costa Rica. The estimated GST compliance gap in Costa Rica increased from 29 percent in 20...

A New Action-based Dataset of Fiscal Consolidation in Latin America and the Caribbean

A New Action-based Dataset of Fiscal Consolidation in Latin America and the Caribbean »

Volume/Issue: 2018/94

Series: IMF Working Papers

Author(s): Antonio David , and Daniel Leigh

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 26 April 2018

DOI: http://dx.doi.org/10.5089/9781484353059.001

ISBN: 9781484353059

Keywords: Mexico, Paraguay, Peru, Taxation, Uruguay, Western Hemisphere, Argentina, Fiscal policy, Guatemala, Jamaica

This paper presents a new database of fiscal consolidations for 14 Latin American and Caribbean economies during 1989-2016. We focus on discretionary changes in taxes and government spending primarily motivated by...

Costa Rica
			: Technical Assistance Report - Financial Sector Stability Review

Costa Rica : Technical Assistance Report - Financial Sector Stability Review »

Volume/Issue: 2018/80

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. Monetary and Capital Markets Department

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 02 April 2018

DOI: http://dx.doi.org/10.5089/9781484347317.002

ISBN: 9781484347317

Keywords: Financial stability, Financial sector, Surveillance, Bank supervision, Bank regulations, Crisis prevention, Pensions, Dollarization, Public debt, Technical Assistance

This Technical Assistance Report discusses the findings and recommendations made by the IMF mission to assist Costa Rica in delivering sound financial sector reform in support of financial stability. It was found t...

Costa Rica
			: Balance of Payments and International Investment Position Statistics (October 13-23, 2014)

Costa Rica : Balance of Payments and International Investment Position Statistics (October 13-23, 2014) »

Volume/Issue: 2018/35

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. Statistics Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 12 February 2018

DOI: http://dx.doi.org/10.5089/9781484341056.002

ISBN: 9781484341056

Keywords: Technical assistance missions, Balance of payments, External sector, External debt, Statistics, Technical Assistance, Costa Rica, Financial statistics, Monetary statistics, International investment position

This Technical Assistance Report discusses the recommendations made by the IMF missions on the balance of payments and international investment position dynamics in Costa Rica. In view of the results of the economi...

Costa Rica
			: Technical Assistance Report-The Coordinated Direct Investment Survey and the Coordinated Portfolio Investment Survey  (March 6-14, 2014)

Costa Rica : Technical Assistance Report-The Coordinated Direct Investment Survey and the Coordinated Portfolio Investment Survey (March 6-14, 2014) »

Volume/Issue: 2018/36

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. Statistics Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 12 February 2018

DOI: http://dx.doi.org/10.5089/9781484341117.002

ISBN: 9781484341117

Keywords: Technical assistance missions, External sector, Financial statistics, Financial intermediation, Foreign direct investment, Technical Assistance, Costa Rica, Monetary statistics, Balance of payments, External sector statistics

This Technical Assistance Report discusses the findings and recommendations made by the IMF mission about the Coordinated Direct Investment Survey and Coordinated Portfolio Investment Survey in Costa Rica. It was o...

Migration and Remittances in Latin America and the Caribbean
			: Engines of Growth and Macroeconomic Stabilizers?

Migration and Remittances in Latin America and the Caribbean : Engines of Growth and Macroeconomic Stabilizers? »

Volume/Issue: 2017/144

Series: IMF Working Papers

Author(s): Kimberly Beaton , Svetlana Cerovic , Misael Galdamez , Metodij Hadzi-Vaskov , Franz Loyola , Zsoka Koczan , Bogdan Lissovolik , Jan Martijn , Yulia Ustyugova , and Joyce Wong

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 29 June 2017

DOI: http://dx.doi.org/10.5089/9781484303641.001

ISBN: 9781484303641

Keywords: Dominica, Dominican Republic, Caribbean, Costa Rica, Antigua and Barbuda, Asia and Pacific, Bahamas, The, Barbados, Belize, El Salvador

Outward migration has been an important phenomenon for countries in Latin American and the Caribbean (LAC), particularly those in Central America and the Caribbean. This paper examines recent trends in outward migr...

Costa Rica
			: 2017 Article IV Consultation-Press Release; and Staff Report

Costa Rica : 2017 Article IV Consultation-Press Release; and Staff Report »

Volume/Issue: 2017/156

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. Western Hemisphere Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 27 June 2017

DOI: http://dx.doi.org/10.5089/9781484304532.002

ISBN: 9781484304532

Keywords: Costa Rica, Western Hemisphere

This 2017 Article IV Consultation highlights the growth of Costa Rica's economy at its estimated trend rate of about 4.25 percent and an essentially closed output gap. Headline inflation turned positive again in th...

Costa Rica
			: Selected Issues and Analytical Notes

Costa Rica : Selected Issues and Analytical Notes »

Volume/Issue: 2017/157

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. Western Hemisphere Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 27 June 2017

DOI: http://dx.doi.org/10.5089/9781484304563.002

ISBN: 9781484304563

Keywords: Western Hemisphere, Costa Rica

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, t...

Cluster Report
			: Trade Integration in Latin America and the Caribbean

Cluster Report : Trade Integration in Latin America and the Caribbean »

Volume/Issue: 2017/66

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. Western Hemisphere Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 10 March 2017

DOI: http://dx.doi.org/10.5089/9781475586015.002

ISBN: 9781475586015

Keywords: Puerto Rico, Suriname, Peru, Trinidad and Tobago, Grenada, Guatemala, Guyana, Haiti, Honduras, Jamaica

This Cluster Report explores opportunities for trade integration in the Latin America and the Caribbean region. It finds that the region can reap significant growth benefits from further trade integration. With tra...

Second Progress Report On Inclusion of Enhanced Contractual Provisions in International Sovereign Bond Contracts

Second Progress Report On Inclusion of Enhanced Contractual Provisions in International Sovereign Bond Contracts »

Volume/Issue: 2016/073

Series: Policy Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 27 December 2016

DOI: http://dx.doi.org/10.5089/9781498344951.007

ISBN: 9781498344951

Keywords: Bond issues, Bonds, Collective action clauses, Debt restructuring, Sovereign debt, Public debt management, Sovereign debt restructuring, Low income countries, outstand stock, passu

endorsed in October 2014 the inclusion of key features of enhanced pari passu provisions and collective action clauses (CACs) in new international sovereign bonds. Specifically, the Executive Board endorsed the use...

Costa Rica
			: 2016 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Costa Rica

Costa Rica : 2016 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Costa Rica »

Volume/Issue: 2016/131

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. Western Hemisphere Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 23 May 2016

DOI: http://dx.doi.org/10.5089/9781475519228.002

ISBN: 9781475519228

Keywords: inflation, debt, monetary policy, monetary fund, oil prices

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 fisca...

Costa Rica
			: Selected Issues and Analytical Notes

Costa Rica : Selected Issues and Analytical Notes »

Volume/Issue: 2016/132

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. Western Hemisphere Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 23 May 2016

DOI: http://dx.doi.org/10.5089/9781484362693.002

ISBN: 9781484362693

Keywords: interest, interest rates, monetary policy, market, lending

This paper looks at the following important issues pertaining to the economy of Costa Rica: micro-financial linkages, financial sector vulnerabilities, monetary policy stance, financial deepening in Costa Rica, fin...

Financial Integration in Latin America

Financial Integration in Latin America »

Volume/Issue: 2016/023

Series: Policy Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 03 April 2016

DOI: http://dx.doi.org/10.5089/9781498345897.007

ISBN: 9781498345897

Keywords: Access to capital markets, Bank supervision, Banks, Capital markets, Cross country analysis, Economic integration, Financial sector, Insurance, Latin America, Pension funds

Many Latin American economies have experienced significant reductions in growth recently, as a result of the end of the commodity super-cycle and the rebalancing of China's growth, and a number of global banks have...

Perspectivas económicas regionales, octubre de 2015: Departamento del Hemisferio Occidental
			: Ajustando bajo presión

Perspectivas económicas regionales, octubre de 2015: Departamento del Hemisferio Occidental : Ajustando bajo presión »

Series: Regional Economic Outlook

Author(s): International Monetary Fund. Western Hemisphere Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 07 October 2015

Language: Spanish

DOI: http://dx.doi.org/10.5089/9781513540610.086

ISBN: 9781513540610

Keywords: intereses, comercio, intercambio, tasa de interés, desarrollo financiero

....

Progress Report on Inclusion of Enhanced Contractual Provisions in International Sovereign Bond Contracts

Progress Report on Inclusion of Enhanced Contractual Provisions in International Sovereign Bond Contracts »

Volume/Issue: 2015/053

Series: Policy Papers

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 18 September 2015

DOI: http://dx.doi.org/10.5089/9781498344210.007

ISBN: 9781498344210

Keywords: Public debt management, Sovereign debt restructuring, Bond issues, Low income countries, Risk premium, passu, bondholder, issuer, new York law, York law

As part of the Fund's ongoing work on sovereign debt restructuring, in October 2014 the Executive Board endorsed the inclusion of key features of enhanced pari passu provisions and collective action clauses (CACs)...

Institutions and Growth
			: a GMM/IV Panel VAR Approach

Institutions and Growth : a GMM/IV Panel VAR Approach »

Volume/Issue: 2015/174

Series: IMF Working Papers

Author(s): Carlos Góes

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 27 July 2015

DOI: http://dx.doi.org/10.5089/9781513555508.001

ISBN: 9781513555508

Keywords: Institutions, Panel VAR, Economic Development, gdp, gdp per capita, results, Semiparametric and Nonparametric Methods, Models with Panel Data, Institutions and Growth, Economic Development.,

Both sides of the institutions and growth debate have resorted largely to microeconometric techniques in testing hypotheses. In this paper, I build a panel structural vector autoregression (SVAR) model for a short...

Perspectivas económicas, abril de 2015: Las Américas,
			: El Norte se recupera, el Sur aún espera

Perspectivas económicas, abril de 2015: Las Américas, : El Norte se recupera, el Sur aún espera »

Series: Regional Economic Outlook

Author(s): International Monetary Fund. Western Hemisphere Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 06 May 2015

Language: Spanish

DOI: http://dx.doi.org/10.5089/9781484318768.086

ISBN: 9781484318768

Keywords: América Latina; exportadores de materias primas; economías que dependen del turismo; América Central y la República Dominicana; economía finacieramente integradas

Perspectivas económicas: Las Américas, abril de 2015...

Costa Rica
			: Staff Report for the 2014 Article IV Consultation

Costa Rica : Staff Report for the 2014 Article IV Consultation »

Volume/Issue: 2015/29

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. Western Hemisphere Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 04 February 2015

DOI: http://dx.doi.org/10.5089/9781484337905.002

ISBN: 9781484337905

Keywords: inflation, debt, exchange rate, exchange, monetary fund

The economy recovered quickly from the global crisis of 2008-09, with healthy growth and low inflation. Growth has, however, slowed recently and is expected to remain subdued in the short run, since gains from reco...

Costa Rica
			: Selected Issues and Analytical Notes

Costa Rica : Selected Issues and Analytical Notes »

Volume/Issue: 2015/30

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. Western Hemisphere Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 04 February 2015

DOI: http://dx.doi.org/10.5089/9781475527025.002

ISBN: 9781475527025

Keywords: Costa Rica, Central banks, Economic growth, Financial sector, Electric power, Monetary policy, Labor markets, Flexible exchange rate policy, Selected issues, Spillovers

This Selected Issues paper examines several real sector issues, including estimates of potential output, the effect of Intel's withdrawal on gross domestic product (GDP), labor market and inequality and electricity...

Excerpt: Latin America
			: New Challenges to Growth and Stability

Excerpt: Latin America : New Challenges to Growth and Stability »

Series: Miscellaneous Publication (Other)

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 15 December 2014

DOI: http://dx.doi.org/10.5089/9781498331081.073

ISBN: 9781498331081

Keywords: Economic conditions, Financial crises, Economic policy, Economic growth, Financial statistics, MISC PUBS, simple average, tailwind, external shock, commodity price

This is an excerpt of Latin America: New Challenges to Grwoth and Stability....

Update on the Fiscal Transparency Initiative

Update on the Fiscal Transparency Initiative »

Volume/Issue: 2014/032

Series: Policy Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 18 June 2014

DOI: http://dx.doi.org/10.5089/9781498343213.007

ISBN: 9781498343213

Keywords: Executive Board decisions, Fiscal risk, Fiscal transparency, Lapse of time approval, Risk management, Fiscal management, Financial statements, Public financial management, FTEs, FTC

This paper provides an update on staff's work on a new Fiscal Transparency Code (FTC) and experiences with the initial pilot Fiscal Transparency Evaluations (FTE), the ground work for which was laid in a 2012 paper...

Perspectivas económicas regionales, abril de 2014: Departamento del Hemisferio Occidental

Perspectivas económicas regionales, abril de 2014: Departamento del Hemisferio Occidental »

Series: Regional Economic Outlook

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 24 April 2014

Language: Spanish

DOI: http://dx.doi.org/10.5089/9781484346129.086

ISBN: 9781484346129

Los cinco informes sobre las perspectivas económicas regionales (informes REO) que el FMI publica semestralmente abarcan Asia y el Pacífico, Europa, Oriente Medio y Asia Central, África sub-sahariana y las Américas...

Review of the Flexible Credit Line, the Precautionary and Liquidity Line, and the Rapid Financing Instrument

Review of the Flexible Credit Line, the Precautionary and Liquidity Line, and the Rapid Financing Instrument »

Volume/Issue: 2014/009

Series: Policy Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 28 January 2014

DOI: http://dx.doi.org/10.5089/9781498343800.007

ISBN: 9781498343800

Keywords: Access to Fund general resources, Conditionality, Flexible Credit Line, Precautionary and Liquidity Line, Rapid Financing Instrument, External sector, Financial crises, Economic conditions, Financial institutions, Financial systems

This review of the Flexible Credit Line (FCL), the Precautionary and Liquidity Line (PLL), and the Rapid Financing Instrument (RFI) focuses on four key issues: (i) the demand for the FCL and PLL in the context of t...

Costa Rica
			: Fiscal Transparency Assessment

Costa Rica : Fiscal Transparency Assessment »

Volume/Issue: 2013/316

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. Fiscal Affairs Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 30 October 2013

DOI: http://dx.doi.org/10.5089/9781484316733.002

ISBN: 9781484316733

Keywords: Costa Rica, Budgets, Budgeting, Fiscal transparency, Fiscal risk, Fiscal policy, Risk management, fiscal reports, fiscal transparency assessment, fiscal risks

This paper discusses pilot fiscal transparency assessment for Costa Rica. The assessment confirmed that Costa Rica has various excellent and sophisticated fiscal transparency practices. Those include: (1) instituti...

Costa Rica
			: Selected Issues

Costa Rica : Selected Issues »

Volume/Issue: 2013/80

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. Western Hemisphere Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 22 March 2013

DOI: http://dx.doi.org/10.5089/9781484319413.002

ISBN: 9781484319413

Keywords: public debt, banking, fiscal consolidation, fiscal adjustment, banking sector

This article is a synopsis on Costa Rica's international spillovers, potential estimates, fiscal challenges, and banking systems. Spillovers are originated by cross-country trade and financial linkages, and also by...

Costa Rica
			: 2012 Article IV Consultation

Costa Rica : 2012 Article IV Consultation »

Volume/Issue: 2013/79

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. Western Hemisphere Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 22 March 2013

DOI: http://dx.doi.org/10.5089/9781484382646.002

ISBN: 9781484382646

Keywords: inflation, central bank, public sector debt, current account, public debt

This article is an analytical report of the economic developments of Costa Rica. The economy showed rapid growth in the aftermath of the global crisis with low inflation; but for further stable growth, certain poli...

Centroamérica, Panamá y la República Dominicana
			: Desafíos tras la crisis mundial de 2008-09

Centroamérica, Panamá y la República Dominicana : Desafíos tras la crisis mundial de 2008-09 »

Series: Books

Author(s): Marco Pinon , Alejandro Lopez Mejia , M. (Mario) Garza , and Fernando Delgado

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 11 December 2012

Language: Spanish

DOI: http://dx.doi.org/10.5089/9781475513134.071

ISBN: 9781475513134

América Central, Panamá y la República Dominicana sobrellevaron bien la crisis financiera mundial de 2008-09. El impacto fue en general menos severo y de menor duración que en episodios anteriores, el ajuste de la...

Central America, Panama, and the Dominican Republic
			: Trade Integration and Economic Performance

Central America, Panama, and the Dominican Republic : Trade Integration and Economic Performance »

Volume/Issue: 2012/234

Series: IMF Working Papers

Author(s): Stephanie Medina Cas , Andrew Swiston , and Luis Barrot

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 27 September 2012

DOI: http://dx.doi.org/10.5089/9781475510843.001

ISBN: 9781475510843

Keywords: Integration, Free trade agreements, free trade, trade agreements, regional integration, Country and Industry Studies of Trade, Economic Growth of Open Economies, Macroeconomic Analyses of Economic Development,

This paper studies the potential for the export sector to play a more important role in promoting growth in Central America, Panama, and the Dominican Republic (CAPDR) through deeper intra-regional and global trade...

Fiscal Transparency, Fiscal Performance and Credit Ratings

Fiscal Transparency, Fiscal Performance and Credit Ratings »

Volume/Issue: 2012/156

Series: IMF Working Papers

Author(s): Julio Escolano , and Elif Arbatli

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 June 2012

DOI: http://dx.doi.org/10.5089/9781475504477.001

ISBN: 9781475504477

Keywords: Sovereign Credit Ratings, fiscal performance, public debt, budget process, budget documents

This paper investigates the effect of fiscal transparency on market assessments of sovereign risk, as measured by credit ratings. It measures this effect through a direct channel (uncertainty reduction) and an indi...

Developments in Financial Supervision and the Use of Macroprudential Measures in Central America

Developments in Financial Supervision and the Use of Macroprudential Measures in Central America »

Volume/Issue: 2011/299

Series: IMF Working Papers

Author(s): Mynor Meza , and Fernando Delgado

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 December 2011

DOI: http://dx.doi.org/10.5089/9781463927851.001

ISBN: 9781463927851

Keywords: financial regulation, financial supervision, Basel III, Central America, foreign exchange, banking, consolidated supervision, banking supervision, foreign exchange positions

Improvements in financial regulation and supervision in the Central American region (CAPDR) have strengthened financial stability. Prudential instruments with potential macroeconomic effects have been introduced. N...

Improving the Monetary Policy Frameworks in Central America

Improving the Monetary Policy Frameworks in Central America »

Volume/Issue: 2011/245

Series: IMF Working Papers

Author(s): Stephanie Medina Cas , Alejandro Carrion-Menendez , and Florencia Frantischek

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 October 2011

DOI: http://dx.doi.org/10.5089/9781463923242.001

ISBN: 9781463923242

Keywords: inflation, central bank, price stability, reserve requirements, Monetary Policy, Central Banking, and the Supply of Money and Credit: General,

Several Central American (CADR) countries with independent monetary policies are strengthening their monetary frameworks and some have implemented or are moving towards inflation targeting (IT) regimes. Strengtheni...

The Policy Interest-Rate Pass-Through in Central America

The Policy Interest-Rate Pass-Through in Central America »

Volume/Issue: 2011/240

Series: IMF Working Papers

Author(s): Stephanie Medina Cas , Alejandro Carrion-Menendez , and Florencia Frantischek

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 October 2011

DOI: http://dx.doi.org/10.5089/9781463923228.001

ISBN: 9781463923228

Keywords: interest-rate transmission, exchange rate, central bank, exchange rate flexibility, inflation,

Several Central American (CADR) central banks with independent monetary policies have adopted policy interest rates as their main instrument to signal their monetary policy stances, often in the context of adopting...

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

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

Volume/Issue: 2011/161

Series: IMF Staff Country Reports

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 05 July 2011

DOI: http://dx.doi.org/10.5089/9781455291670.002

ISBN: 9781455291670

Keywords: public debt, central bank, tax reform, external debt, current account

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. Th...

Costa Rica
			: Ex Post Evaluation of Exceptional Access Under the 2009 Stand-By Arrangement

Costa Rica : Ex Post Evaluation of Exceptional Access Under the 2009 Stand-By Arrangement »

Volume/Issue: 2011/157

Series: IMF Staff Country Reports

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 28 June 2011

DOI: http://dx.doi.org/10.5089/9781455273508.002

ISBN: 9781455273508

Keywords: central bank, inflation, monetary policy, fiscal position, fiscal policy

This report reviews Costa Rica's performance under the Stand-By Arrangement. At the time of the global crisis, Costa Rica's macroeconomic policy framework was constraining policy options. The financial program's de...

Costa Rica
			: Third and Final Review Under the Stand-By Arrangement:  Staff Report; Press Release on the Executive Board Discussion; and Statement by the Executive Director for Costa Rica.

Costa Rica : Third and Final Review Under the Stand-By Arrangement: Staff Report; Press Release on the Executive Board Discussion; and Statement by the Executive Director for Costa Rica. »

Volume/Issue: 2010/162

Series: IMF Staff Country Reports

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 10 June 2010

DOI: http://dx.doi.org/10.5089/9781455202591.002

ISBN: 9781455202591

Keywords: central bank, public sector, exchange rate, current account, external debt

The 2010 staff report for the Third and Final Review Under the Stand-By Arrangement (SBA) reviews the economic performance of Costa Rica. The structural benchmarks related to the deposit insurance and bank resoluti...

Equity and Fiscal Policy
			: The Income Distribution Effects of Taxation and Social Spending in Central America

Equity and Fiscal Policy : The Income Distribution Effects of Taxation and Social Spending in Central America »

Volume/Issue: 2010/112

Series: IMF Working Papers

Author(s): Rodrigo Cubero , and Ivanna Hollar

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 May 2010

DOI: http://dx.doi.org/10.5089/9781455200719.001

ISBN: 9781455200719

Keywords: incidence, social spending, taxation, gini coefficient, public spending, Taxation and Subsidies: Incidence,

How does fiscal policy fare in improving the underlying income distribution in Central America? We integrate the data from a number of existing tax and public expenditure studies for the countries in the region and...

Costa Rica
			: Report on the Observance of Standards and Codes:  Data Module, Response by the Authorities, and Detailed Assessment Using the Data Quality Assessment Framework (DQAF)

Costa Rica : Report on the Observance of Standards and Codes: Data Module, Response by the Authorities, and Detailed Assessment Using the Data Quality Assessment Framework (DQAF) »

Volume/Issue: 2010/53

Series: IMF Staff Country Reports

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 26 February 2010

DOI: http://dx.doi.org/10.5089/9781451809725.002

ISBN: 9781451809725

Keywords: balance of payments, debt, government finance

This paper discusses observance of standards and codes-data Module in Costa Rica, response by the authorities, and detailed assessment using the Data Quality Assessment Framework. The assessment reveals that all st...

Costa Rica
			: Staff Report for the Second Review Under the Stand-By Arrangement; Press Release on the Executive Board Discussion; and Statement by the Executive Director for Costa Rica

Costa Rica : Staff Report for the Second Review Under the Stand-By Arrangement; Press Release on the Executive Board Discussion; and Statement by the Executive Director for Costa Rica »

Volume/Issue: 2010/2

Series: IMF Staff Country Reports

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 05 January 2010

DOI: http://dx.doi.org/10.5089/9781451809718.002

ISBN: 9781451809718

Keywords: central bank, debt, public sector, deficit, interest

This paper discusses key findings of the IMF staff report for Costa Rica for the Second Review Under the Stand-By Arrangement (SBA). Performance under the SBA has remained strong. All quantitative performance crite...

Costa Rica
			: Staff Report for the 2009 Article IV Consultation and First Review Under the Stand-By Arrangement; Press Release and Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for Costa Rica

Costa Rica : Staff Report for the 2009 Article IV Consultation and First Review Under the Stand-By Arrangement; Press Release and Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for Costa Rica »

Volume/Issue: 2009/303

Series: IMF Staff Country Reports

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 16 October 2009

DOI: http://dx.doi.org/10.5089/9781451809701.002

ISBN: 9781451809701

Keywords: debt, public sector, deficit, interest, central bank

Costa Rica's economy has been hit hard by the global crisis, but active policies have helped preserve stability and mitigate the negative impact on growth. This 2009 Article IV Consultation highlights that despite...

Reduction of Blackout Periods in GRA Arrangements

Reduction of Blackout Periods in GRA Arrangements »

Volume/Issue: 2009/059

Series: Policy Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 27 August 2009

DOI: http://dx.doi.org/10.5089/9781498335645.007

ISBN: 9781498335645

Keywords: Access to Fund general resources, Fund arrangements, Fund facilities, Fund policies, General Resources Account, Members, Central banks, Balance of payments, Balance of payments need, Bank liquidity

In the context of the March 2009 reforms of the General Resources Account (GRA) lending toolkit, the Executive Board asked staff to prepare a paper addressing the problem of blackout periods under GRA arrangements,...

Debt Limits in Fund-Supported Programs - Proposed New Guidelines

Debt Limits in Fund-Supported Programs - Proposed New Guidelines »

Volume/Issue: 2009/038

Series: Policy Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 08 May 2009

DOI: http://dx.doi.org/10.5089/9781498335744.007

ISBN: 9781498335744

Keywords: Access limits, Access to Fund general resources, Concessional aid, Debt management, Debt sustainability, External debt, External financing, Financial management, Fund facilities, Fund policies

Low-income countries (LICs) face significant challenges in meeting their development objectives, while maintaining a sustainable debt position. To address this dilemma, the international community has largely advoc...

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

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 »

Volume/Issue: 2009/134

Series: IMF Staff Country Reports

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 29 April 2009

DOI: http://dx.doi.org/10.5089/9781451809695.002

ISBN: 9781451809695

Keywords: debt, public sector, interest, central bank, deficit

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 i...

América Central
			: Progreso económico y reformas

América Central : Progreso económico y reformas »

Volume: 08

Series: Departmental Papers / Policy Papers

Author(s): Dominique Desruelle , and Alfred Schipke

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 25 March 2009

Language: Spanish

DOI: http://dx.doi.org/10.5089/9781589067974.087

ISBN: 9781589067974

América Central ha logrado importantes avances en los últimos años al impulsar reformas económicas y profundizar la integración regional y mundial. Como resultado de estos esfuerzos, la región ha logrado aumentar e...

Central America
			: Economic Progress and Reforms

Central America : Economic Progress and Reforms »

Volume: 08

Series: Departmental Papers / Policy Papers

Author(s): Dominique Desruelle , and Alfred Schipke

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 24 November 2008

DOI: http://dx.doi.org/10.5089/9781589067653.087

ISBN: 9781589067653

Keywords: customs, social spending, common, customs union, capital markets

Central America has made substantial progress in recent years in moving economic reforms forward and deepening regional and global integration. As result of these efforts, the region has experienced higher growth,...

The Costs of Sovereign Default

The Costs of Sovereign Default »

Volume/Issue: 2008/238

Series: IMF Working Papers

Author(s): Eduardo Borensztein , and Ugo Panizza

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 October 2008

DOI: http://dx.doi.org/10.5089/9781451870961.001

ISBN: 9781451870961

Keywords: Country Risk, banking, banking crises, banking crisis, sovereign default,

This paper evaluates empirically four types of cost that may result from an international sovereign default: reputational costs, international trade exclusion costs, costs to the domestic economy through the financ...

Fiscal Positions in Latin America
			: Have They Really Improved?

Fiscal Positions in Latin America : Have They Really Improved? »

Volume/Issue: 2008/137

Series: IMF Working Papers

Author(s): Jeronimo Zettelmeyer , and Ivanna Hollar

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 May 2008

DOI: http://dx.doi.org/10.5089/9781451869965.001

ISBN: 9781451869965

Keywords: tax structure, tax system, tax revenue, tax administration

Fiscal performance in Latin America looks much improved this decade compared to the 1980s or 1990s. Is this a "structural" improvement or likely to be transitory? This paper answers this question by estimating the...

Costa Rica
			: 2007 Article IV Consultation:  Staff Report; Staff Supplement; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for Costa Rica

Costa Rica : 2007 Article IV Consultation: Staff Report; Staff Supplement; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for Costa Rica »

Volume/Issue: 2008/97

Series: IMF Staff Country Reports

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 10 March 2008

DOI: http://dx.doi.org/10.5089/9781451809688.002

ISBN: 9781451809688

Keywords: debt, interest, central bank, public sector, deficit

The Costa Rican economy has grown at rapid rates in the last three years, underpinned by a robust world expansion, sound economic policies, and strong business and consumer confidence. Economic policies have been w...

Central Bank Financial Strength, Policy Constraints and Inflation

Central Bank Financial Strength, Policy Constraints and Inflation »

Volume/Issue: 2008/49

Series: IMF Working Papers

Author(s): Peter Stella

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 February 2008

DOI: http://dx.doi.org/10.5089/9781451869118.001

ISBN: 9781451869118

Keywords: Central bank, monetary fund, monetary authorities,

Central bank financial strength is positively associated with good policy performance. Financially weak central banks generate losses which undermine macroeconomic stability and call into question the credibility o...

Equity and Private Debt Markets in Central America, Panama, and the Dominican Republic

Equity and Private Debt Markets in Central America, Panama, and the Dominican Republic »

Volume/Issue: 2007/288

Series: IMF Working Papers

Author(s): Hemant Shah , Jorge Chan-Lau , Geoffrey Bannister , Ana Carvajal , and Ivan Guerra

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 December 2007

DOI: http://dx.doi.org/10.5089/9781451868517.001

ISBN: 9781451868517

Keywords: equity, securitization, securities regulation, pension, pension funds, mutual funds, securities exchange,

This study focuses on equity, private debt, and asset-backed securities markets in Central America. These markets are generally under-developed throughout the region due to several structural problems, economic and...

Costa Rica
			: Report on Observance of Standards and Codes:  Fiscal Transparency Module

Costa Rica : Report on Observance of Standards and Codes: Fiscal Transparency Module »

Volume/Issue: 2007/372

Series: IMF Staff Country Reports

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 30 November 2007

DOI: http://dx.doi.org/10.5089/9781451809671.002

ISBN: 9781451809671

Keywords: budget process, budgetary central government, budget documents, budget execution

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 adva...

América Central
			: Crecimiento económico e integración

América Central : Crecimiento económico e integración »

Series: Occasional Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 13 June 2007

Language: Spanish

DOI: http://dx.doi.org/10.5089/9781589066601.084

ISBN: 9781589066601

¿Cómo consolidar los avances logrados con tanto esfuerzo, acrecentar la capacidad de resistencia a los shocks y alcanzar un mayor crecimiento económico a fin de reducir la pobreza? Estos son los desafíos que se le...

Economic Growth and Integration in Central America

Economic Growth and Integration in Central America »

Series: Occasional Papers

Author(s): Alfred Schipke , and Dominique Desruelle

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 13 June 2007

DOI: http://dx.doi.org/10.5089/9781589066168.084

ISBN: 9781589066168

Keywords: Economic conditions, Economic growth, Public debt, debt, inflation, pension, monetary policy

How to entrench hard-won gains, increase resilience to shocks, and improve growth performance to reduce poverty? As Central America moves forward in regaining macroeconomic stability, these are the challenges. This...

Public Debt Markets in Central America, Panama, and the Dominican Republic

Public Debt Markets in Central America, Panama, and the Dominican Republic »

Volume/Issue: 2007/147

Series: IMF Working Papers

Author(s): Andreas Jobst , Laura Valderrama , Ivan Guerra , and Hemant Shah

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 June 2007

DOI: http://dx.doi.org/10.5089/9781451867114.001

ISBN: 9781451867114

Keywords: public debt markets, and capital market development, public debt, debt, central bank, debt management, external debt,

This paper-consisting of a regional study and seven country studies-reviews the state of domestic public debt markets in Costa Rica, Dominican Republic, El Salvador, Guatemala, Honduras, Nicaragua, and Panama as at...

Strengthening Debt Management Practices - Lessons from Country Experiences and Issues Going Forward

Strengthening Debt Management Practices - Lessons from Country Experiences and Issues Going Forward »

Volume/Issue: 2007/009

Series: Policy Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 27 March 2007

DOI: http://dx.doi.org/10.5089/9781498333672.007

ISBN: 9781498333672

Keywords: Debt management, Public debt, Financial crises, Multilateral debt, Domestic debt, External debt statistics, Financial markets, PDM, MICs, debt market

This paper reviews Bank-Fund staff experience with strengthening public debt management (PDM) frameworks and capacity in developing countries. In 2001, the IMF and the World Bank developed sound practice guidelines...

Boletín del FMI Vol.35, No.22 diciembre 2006

Boletín del FMI Vol.35, No.22 diciembre 2006 »

Volume/Issue: 35/22

Series: IMF Survey

Author(s): International Monetary Fund. External Relations Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 04 December 2006

Language: Spanish

DOI: http://dx.doi.org/10.5089/9781451944525.023

ISBN: 9781451944525

El Boletín del FMI aborda de manera específica el trabajo del FMI y los grandes temas macroeconómicos y financieros internacionales y ofrece análisis sobre la evolución en los distintos países y regiones y en el mu...

Regulatory Lessons from the Crisis of Costa Rica's Mutual Fund Industry

Regulatory Lessons from the Crisis of Costa Rica's Mutual Fund Industry »

Volume/Issue: 2006/288

Series: IMF Working Papers

Author(s): Ana Carvajal

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 December 2006

DOI: http://dx.doi.org/10.5089/9781451865486.001

ISBN: 9781451865486

Keywords: collective investment schemes, investors, mutual fund, regulatory framework, pension, Corporation and Securities Law, General Financial Markets: Government Policy and Regulation, Financial Institutions and Services: Government Policy and Regulation,

In 2004, the mutual fund industry of Costa Rica experienced a massive run by investors that reduced the industry to half its size in a month. This paper explores how weaknesses in the regulatory framework played a...

Costa Rica
			: Staff Report for the 2006 Article IV Consultation

Costa Rica : Staff Report for the 2006 Article IV Consultation »

Volume/Issue: 2006/416

Series: IMF Staff Country Reports

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 29 November 2006

DOI: http://dx.doi.org/10.5089/9781451809664.002

ISBN: 9781451809664

Keywords: debt, central bank, interest, public sector

Despite the oil price shock, growth has been high. Discussions focused on the policies needed to reduce Costa Rica's vulnerabilities, enhance growth, and reduce poverty in a lasting way. Passage of a substantial ta...

The Perils of Tax Smoothing
			: Sustainable Fiscal Policy with Random Shocks to Permanent Output

The Perils of Tax Smoothing : Sustainable Fiscal Policy with Random Shocks to Permanent Output »

Volume/Issue: 2005/207

Series: IMF Working Papers

Author(s): Evan Tanner , and Kevin Carey

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 November 2005

DOI: http://dx.doi.org/10.5089/9781451862263.001

ISBN: 9781451862263

Keywords: Tax smoothing, sustainability, and forecast error, tax rates, statistics, standard deviation, statistic, forecast error,

If permanent output is uncertain, tax smoothing can be perilous: both debt levels and tax rates are difficult to stabilize and may drift upwards. One practical remedy would be to target the debt. However, our simul...

América Central
			: Integración mundial y cooperación regional

América Central : Integración mundial y cooperación regional »

Series: Occasional Papers

Author(s): Alfred Schipke , and Markus Rodlauer

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 08 September 2005

Language: Spanish

DOI: http://dx.doi.org/10.5089/9781589064799.084

ISBN: 9781589064799

América Central ha concitado creciente atención como una región que se está integrando exitosamente a la economía mundial. Este estudio examina -entre otras cosas- las implicaciones macroeconómicas y fiscales del A...

Central America
			: Global Integration and Regional Cooperation

Central America : Global Integration and Regional Cooperation »

Series: Occasional Papers

Author(s): Markus Rodlauer , and Alfred Schipke

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 14 July 2005

DOI: http://dx.doi.org/10.5089/9781589064461.084

ISBN: 9781589064461

Keywords: Tax administration, Statistics, exchange rate, exchange rate regimes, exchange rate regime, free trade, trade diversion

Central America has received growing attention as a region that is integrating successfully into the global economy. This paper examines-among other things-the macroeconomic and fiscal implications of the Free Trad...

Special Agricultural Safeguards
			: Virtual Benefits and Real Costs-Lessons for the Doha Round

Special Agricultural Safeguards : Virtual Benefits and Real Costs-Lessons for the Doha Round »

Volume/Issue: 2005/131

Series: IMF Working Papers

Author(s): Jean-Jacques Hallaert

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 June 2005

DOI: http://dx.doi.org/10.5089/9781451861501.001

ISBN: 9781451861501

Keywords: Agricultural trade, internet, tariff lines, import price, quantitative restrictions

In the Doha Round, negotiators are discussing the elimination or continuation of the special agricultural safeguards introduced by the Uruguay Round as well as the creation of special safeguard mechanism for use by...

IMF Survey, Volume 34, Issue 06

IMF Survey, Volume 34, Issue 06 »

Volume/Issue: 34/6

Series: IMF Survey

Author(s): International Monetary Fund. External Relations Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 07 April 2005

DOI: http://dx.doi.org/10.5089/9781451938418.023

ISBN: 9781451938418

Keywords: development bank, macroeconomic policy, economic outlook, international monetary fund

The Web edition of the IMF Survey is updated several times a week, and contains a wealth of articles about topical policy and economic issues in the news. Access the latest IMF research, read interviews, and listen...

IMF Survey, Volume 34, Issue 05

IMF Survey, Volume 34, Issue 05 »

Volume/Issue: 34/5

Series: IMF Survey

Author(s): International Monetary Fund. External Relations Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 22 March 2005

DOI: http://dx.doi.org/10.5089/9781451938371.023

ISBN: 9781451938371

Keywords: development bank, macroeconomic policy, economic outlook, international monetary fund

The Web edition of the IMF Survey is updated several times a week, and contains a wealth of articles about topical policy and economic issues in the news. Access the latest IMF research, read interviews, and listen...

Public Investment and Fiscal Policy - Lessons From the Pilot Country Studies

Public Investment and Fiscal Policy - Lessons From the Pilot Country Studies »

Volume/Issue: 2005/005

Series: Policy Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 04 January 2005

DOI: http://dx.doi.org/10.5089/9781498331630.007

ISBN: 9781498331630

Keywords: Fiscal indicators, Economic policy, Public financial management, Public sector savings, Economic growth, PPPs, public investment, infrastructure spend, PEs, public enterprise

This paper reports on findings from eight pilot country studies on public investment that were carried out during the second half of 2004. The pilot country studies covered a diverse group of countries. Specificall...

Capitalizing Central Banks
			: A Net Worth Approach

Capitalizing Central Banks : A Net Worth Approach »

Volume/Issue: 2005/15

Series: IMF Working Papers

Author(s): Alain Ize

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 January 2005

DOI: http://dx.doi.org/10.5089/9781451860344.001

ISBN: 9781451860344

Keywords: net worth, central bank, inflation, monetary fund, market debt,

This paper provides a simple, quantitative, net worth-based, approach to assessing the need for central bank capital. It derives a concept of "core capital" (a function of the central bank's operating expenditures...

Costa Rica
			: Staff Report for the 2004 Article IV Consultation

Costa Rica : Staff Report for the 2004 Article IV Consultation »

Volume/Issue: 2004/298

Series: IMF Staff Country Reports

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 20 September 2004

DOI: http://dx.doi.org/10.5089/9781451809626.002

ISBN: 9781451809626

Keywords: debt, public sector, interest, central bank, public sector debt

This 2004 Article IV Consultation highlights that Costa Rica's economic performance improved in 2003. Following several years of slow growth, real GDP rose by 51/2 percent, boosted by a recovery of exports and stro...

Progress Report to the International Monetary and Financial Committee on Crisis Resolution

Progress Report to the International Monetary and Financial Committee on Crisis Resolution »

Volume/Issue: 2004/020

Series: Policy Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 20 April 2004

DOI: http://dx.doi.org/10.5089/9781498330343.007

ISBN: 9781498330343

Keywords: Collective action clauses, Crisis prevention, Debt restructuring, Reports to International Monetary and Financial Committee, Financial crises, International capital markets, Bond issues, Public debt management, PP, new York law

...

Sustainability Assessments - Review of Application and Methodological Refinements

Sustainability Assessments - Review of Application and Methodological Refinements »

Volume/Issue: 2003/049

Series: Policy Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 06 October 2003

DOI: http://dx.doi.org/10.5089/9781498329453.007

ISBN: 9781498329453

Keywords: Balance of payments, Current account, External debt, Public debt, Economic conditions, Financial crises, Domestic debt, Real interest rates, Economic policy, PP

...

Fifth Review of the Fund's Data Standards Initiatives

Fifth Review of the Fund's Data Standards Initiatives »

Volume/Issue: 2003/026

Series: Policy Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 18 June 2003

DOI: http://dx.doi.org/10.5089/9781498329347.007

ISBN: 9781498329347

Keywords: General Data Dissemination System, Special Data Dissemination Standard, Financial crises, Financial statistics, External debt statistics, Government finance statistics, Balance of payments, PP, SDDS, ROSC

This paper reviews developments under the Fund's Data Standards Initiativ--the Special Data Dissemination Standard (SDDS) and the General Data Dissemination System (GDDS)--and their integration under the Data Quali...

Costa Rica
			: Financial System Stability Assessment

Costa Rica : Financial System Stability Assessment »

Volume/Issue: 2003/103

Series: IMF Staff Country Reports

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 17 April 2003

DOI: http://dx.doi.org/10.5089/9781451809640.002

ISBN: 9781451809640

Keywords: banking, deposit insurance, financial system, financial sector, consolidated supervision

This paper presents key findings of the Financial System Stability Assessment for Costa Rica. The Costa Rican financial system exhibits some immediate strengths deriving from an environment with limited historic vo...

Costa Rica
			: Staff Report for the 2002 Article IV Consultation

Costa Rica : Staff Report for the 2002 Article IV Consultation »

Volume/Issue: 2003/82

Series: IMF Staff Country Reports

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 21 March 2003

DOI: http://dx.doi.org/10.5089/9781451809619.002

ISBN: 9781451809619

Keywords: debt, public sector, central bank, interest, interest rates

This 2002 Article IV Consultation highlights that since 2000, economic growth in Costa Rica has slowed to about 2 percent. Inflation has remained at 10 percent, and unemployment has remained at about 6 percent. The...

Costa Rica
			: Report on the Observance of Standards and Codes (ROSC)-Data Module

Costa Rica : Report on the Observance of Standards and Codes (ROSC)-Data Module »

Volume/Issue: 2002/185

Series: IMF Staff Country Reports

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 16 August 2002

DOI: http://dx.doi.org/10.5089/9781451809657.002

ISBN: 9781451809657

Keywords: national accounts, government finance, government finance statistics, debt, Reports on the Observance of Standards and Code,

This report provides a summary of Costa Rica's macroeconomic data dissemination practices against the IMF's Special Data Dissemination Standard (SDDS), together with a summary assessment of the dimensions of data q...

Bankruptcy Procedures for Sovereigns
			: A History of Ideas, 1976-2001

Bankruptcy Procedures for Sovereigns : A History of Ideas, 1976-2001 »

Volume/Issue: 2002/133

Series: IMF Working Papers

Author(s): Jeronimo Zettelmeyer , and Kenneth Rogoff

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 August 2002

DOI: http://dx.doi.org/10.5089/9781451855500.001

ISBN: 9781451855500

Keywords: sovereign bankruptcy, debt crises, international bankruptcy court, Chapter 11, sovereign debt, creditors, debt restructuring, creditor, History of Thought since 1925: Other, History of Thought: Individuals: General

This paper describes the evolution of ideas to apply bankruptcy reorganization principles to sovereign debt crises. Our focus is on policy proposals between the late 1970s and Anne Krueger's (2001) proposed "Sovere...

Data Provision to the Fund for Surveillance Purposes

Data Provision to the Fund for Surveillance Purposes »

Volume/Issue: 2002/024

Series: Policy Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 26 April 2002

DOI: http://dx.doi.org/10.5089/9781498328562.007

ISBN: 9781498328562

Keywords: Data analysis, Data collection, Exchange rate policy surveillance, Multilateral surveillance, Special Data Dissemination Standard, External sector, Access to international capital markets, International investment position, External debt statistics, External debt

...

Costa Rica
			: Staff Report for the 2001 Article IV Consultation

Costa Rica : Staff Report for the 2001 Article IV Consultation »

Volume/Issue: 2002/88

Series: IMF Staff Country Reports

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 24 April 2002

DOI: http://dx.doi.org/10.5089/9781451809602.002

ISBN: 9781451809602

Keywords: public sector, debt, central bank, interest, deficit

This 2001 Article IV Consultation highlights that the economic performance of Costa Rica weakened in 2000. Real GDP growth slowed to 1.7 percent, from more than 8 percent a year in 1998-99, reflecting in part deter...

Costa Rica
			: Selected Issues

Costa Rica : Selected Issues »

Volume/Issue: 2002/89

Series: IMF Staff Country Reports

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 24 April 2002

DOI: http://dx.doi.org/10.5089/9781451809633.002

ISBN: 9781451809633

Keywords: reer, trading partners, trade liberalization, trade flows, exports of goods

This Selected Issues paper examines recent economic developments and economic growth in Costa Rica. The paper highlights that real GDP growth of Costa Rica slowed to 1.7 percent, from more than 8 percent a year in...

Experience with the Assessments of the IOSCO Objectives and Principles of Securities Regulation Under the Financial Sector Assessment Program

Experience with the Assessments of the IOSCO Objectives and Principles of Securities Regulation Under the Financial Sector Assessment Program »

Volume/Issue: 2002/020

Series: Policy Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 18 April 2002

DOI: http://dx.doi.org/10.5089/9781498328623.007

ISBN: 9781498328623

Keywords: Bonds, Financial Sector Assessment Program, International cooperation, Securities regulations, Financial sector development, Financial systems, Financial institutions, Financial services, Macroprudential policies and financial stability, PP

...

Early Ideas on Sovereign Bankruptcy Reorganization
			: A Survey

Early Ideas on Sovereign Bankruptcy Reorganization : A Survey »

Volume/Issue: 2002/57

Series: IMF Working Papers

Author(s): Kenneth Rogoff , and Jeronimo Zettelmeyer

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 March 2002

DOI: http://dx.doi.org/10.5089/9781451847789.001

ISBN: 9781451847789

Keywords: Sovereign Bankruptcy, Debt Crises, International Bankruptcy Court, Chapter 11, sovereign debt, court, debt restructuring, debt crisis, international debt, History of Thought since 1925: Other

This paper surveys early intellectual antecedents of the Krueger (2001) proposal for creating bankruptcy reorganization procedures at the international level. We focus on actual proposals for new procedures made fr...

Economic and Environmental Benefits of Eliminating Log Export Bans-The Case of Costa Rica

Economic and Environmental Benefits of Eliminating Log Export Bans-The Case of Costa Rica »

Volume/Issue: 2001/153

Series: IMF Working Papers

Author(s): Nalin Kishor , Muthukumara Mani , and Luis Constantino

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 October 2001

DOI: http://dx.doi.org/10.5089/9781451857153.001

ISBN: 9781451857153

Keywords: trade and environment, log export ban (LEB), sustainable management, forest, forests, environmental benefits, environmental costs, timber trade, Renewable Resources and Conservation: Forestry, Log Export Ban

An increasing number of tropical timber producing nations have enacted bans on export of logs. Proponents argue that a log export ban is a second-best policy tool for addressing environmental externalities; it also...

Domestic Petroleum Price Smoothing in Developing and Transition Countries

Domestic Petroleum Price Smoothing in Developing and Transition Countries »

Volume/Issue: 2001/75

Series: IMF Working Papers

Author(s): Benedict Bingham , James Daniel , and Giulio Federico

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 May 2001

DOI: http://dx.doi.org/10.5089/9781451849738.001

ISBN: 9781451849738

Keywords: petroleum prices, petroleum products, spot price, petroleum pricing, Fiscal and Monetary Policy in Development, Energy: Government Policy,

This paper examines the case for government-led smoothing of domestic petroleum prices in the face of volatile international prices. Governments in most developing and transition countries engage in petroleum price...

Competitiveness and the Equilibrium Exchange Rate in Costa Rica

Competitiveness and the Equilibrium Exchange Rate in Costa Rica »

Volume/Issue: 2001/23

Series: IMF Working Papers

Author(s): Claudio Paiva

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 February 2001

DOI: http://dx.doi.org/10.5089/9781451844047.001

ISBN: 9781451844047

Keywords: Current account, Costa Rica, Export competitiveness, Exchange rates, Foreign exchange, Equilibrium exchange rate, current account sustainability, competitiveness, external vulnerability, exchange rate

This paper evaluates several indicators of external vulnerability and estimates the equilibrium real exchange rate for Costa Rica. While current indicators are mostly positive, declining market shares of domestic e...

Real Effects of High Inflation

Real Effects of High Inflation »

Volume/Issue: 2000/85

Series: IMF Working Papers

Author(s): Benedikt Braumann

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 April 2000

DOI: http://dx.doi.org/10.5089/9781451850741.001

ISBN: 9781451850741

Keywords: real effects, superneutrality, cash-in-advance constraint, real wages, high inflation, monetary economics, inflation crises

This paper revisits the question of the real effects of inflation, on the basis of the experience with 23 high inflation episodes in 17 countries. It finds strong indications that inflation had contractionary effec...

The IMF and Human Development
			: A Dialogue with Civil Society

The IMF and Human Development : A Dialogue with Civil Society »

Series: Other Statistical Electronic Products

Author(s): Michel Camdessus

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 06 March 2000

DOI: http://dx.doi.org/10.5089/9781557758903.038

ISBN: 9781557758903

Keywords: debt, civil society, debt relief, ngos, expenditures

During his tenure as Managing Director of the IMF, and in his interactions with civil society, Michel Camdessus was asked many questions related to the IMF's role in development. This pamphlet collects questions fr...

IMF Survey
			: Volume 29, Issue 10

IMF Survey : Volume 29, Issue 10 »

Volume/Issue: 29/10

Series: IMF Survey

Author(s): International Monetary Fund. External Relations Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 January 2000

DOI: http://dx.doi.org/10.5089/9781451931907.023

ISBN: 9781451931907

Keywords: emerging market, market countries, financial system, debt relief

The Web edition of the IMF Survey is updated several times a week, and contains a wealth of articles about topical policy and economic issues in the news. Access the latest IMF research, read interviews, and listen...

Costa Rica
			: Statistical Annex

Costa Rica : Statistical Annex »

Volume/Issue: 1999/133

Series: IMF Staff Country Reports

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 10 December 1999

DOI: http://dx.doi.org/10.5089/9781451809596.002

ISBN: 9781451809596

Keywords: expenditure, central bank, capital expenditure, total expenditure, current account

In recent years, the IMF has released a growing number of reports and other documents covering economic and financial developments and trends in member countries. Each report, prepared by a staff team after discuss...

Costa Rica
			: Recent Economic Developments

Costa Rica : Recent Economic Developments »

Volume/Issue: 1998/45

Series: IMF Staff Country Reports

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 04 June 1998

DOI: http://dx.doi.org/10.5089/9781451960402.002

ISBN: 9781451960402

Keywords: External sector, Economic conditions, Balance of payments, Producer prices, Economic growth, ISCR, CR, colones, social security agency, real interest rate

In recent years, the IMF has released a growing number of reports and other documents covering economic and financial developments and trends in member countries. Each report, prepared by a staff team after discuss...

Costa Rica
			: Recent Economic Developments

Costa Rica : Recent Economic Developments »

Volume/Issue: 1998/45

Series: IMF Staff Country Reports

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 04 June 1998

DOI: http://dx.doi.org/10.5089/9781451809589.002

ISBN: 9781451809589

Keywords: central bank, inflation, public finances, current account, monetary fund

This paper reviews economic developments in Costa Rica during 1995-97. Costa Rica faced a slump in economic activity in 1995-96 following a sharp deterioration in the public finances and higher inflation associated...

Costa Rica
			: Statistical Appendix

Costa Rica : Statistical Appendix »

Volume/Issue: 1996/67

Series: IMF Staff Country Reports

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 26 August 1996

DOI: http://dx.doi.org/10.5089/9781451809572.002

ISBN: 9781451809572

Keywords: central bank, expenditure, expenditures, current account, capital expenditure

In recent years, the IMF has released a growing number of reports and other documents covering economic and financial developments and trends in member countries. Each report, prepared by a staff team after discuss...

Costa Rica
			: Recent Economic Developments

Costa Rica : Recent Economic Developments »

Volume/Issue: 1995/2

Series: IMF Staff Country Reports

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 23 January 1995

DOI: http://dx.doi.org/10.5089/9781451809565.002

ISBN: 9781451809565

Keywords: central bank, balance of payments, current account, open market, external debt

This paper analyzes economic developments in Costa Rica during the 1990s. The paper highlights that the government of Costa Rica initiated an economic program for 1991-92 aimed at lowering inflation, strengthening...

Devaluation, Relative Prices, and International Trade
			: Evidence From Developing Countries

Devaluation, Relative Prices, and International Trade : Evidence From Developing Countries »

Volume/Issue: 1994/140

Series: IMF Working Papers

Author(s): Carmen Reinhart

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 November 1994

DOI: http://dx.doi.org/10.5089/9781451928679.001

ISBN: 9781451928679

Keywords: cointegration, trade flows, import demand, equation, developing country exports

Devaluation is an integral part of adjustment in many developing countries, particularly relied upon by countries facing large external imbalances. A devaluation can only reduce trade imbalances if it translates to...

Restructuring of Commercial Bank Debt by Developing Countries
			: Lessons from Recent Experience

Restructuring of Commercial Bank Debt by Developing Countries : Lessons from Recent Experience »

Volume/Issue: 1993/7

Series: IMF Policy Discussion Papers

Author(s): Mohamed El-Erian , and Charles Collyns

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 July 1993

DOI: http://dx.doi.org/10.5089/9781451971187.003

ISBN: 9781451971187

Keywords: debt reduction, debt restructuring, bank debt, debt service, debt service reduction

A number of developing countries, including some of the largest debtors, have recently completed comprehensive debt and debt service restructuring packages with their commercial bank creditors. The experience of th...