Costa Rica: 2006 Article IV Consultation: Staff Report; Staff Supplement; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for Costa Rica
International Monetary Fund, Nov 29, 2006 - Business & Economics - 62 pages
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 tax reform is essential. To bring inflation down to low single digits, the authorities plan to recapitalize the central bank and move gradually to a more flexible exchange rate regime. This Article IV Consultation provides an important opportunity to take stock of Costa Rica’s achievements and the challenges ahead.
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ANNEX III THE INTERAmerican DEVELOPMENT BANK RELATIONS WITH COSTA RICA RECENT ACTIVITIES
Balance of payments statistics
Statement by Moises Schwartz Executive Director for Costa Rica and Nina Conrado Senior Advisor to Executive Director October 30 2006
IMF Executive Board Concludes 2006 Article IV Consultation with Costa Rica
ANNEX II WORLD BANK GROUP RELATIONS WITH COSTA RICA
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Article IV consultation asset quality Balance of Payments Bank of Costa bank’s Baseline scenario boost central bank central government Competitiveness Consultation with Costa continue Costa Rica Costa Rican economy Country crawling band crawling peg Debt Sustainability Directors discussions domestic efforts enhance exchange rate flexibility Excludes maquila exports Executive Board expenditure external debt financial dollarization financial sector fiscal deficit foreign currency foreign direct investment foreign exchange market foreign-currency Fund staff estimates Fund staff projections GDP deflator greater exchange rate IMF’s implementation income tax infrastructure Intel’s interest rate international investment position International Monetary Fund international reserves macroeconomic medium-term Ministry of Finance monetary policy offshore banking activities percent of GDP primary surplus private banks public banks public debt public sector reform agenda regional remain Rica’s spending in priority staff report staff welcomes strategy strengthen tax competition tax reform trade U.S. dollar unless otherwise indicated vulnerabilities