IMF Approves $735 Million Loan for Costa Rica

The loan for $735 million will be available for fifteen months and will serve to back up the political strategies of the country in the face of the global economic crisis.

Tuesday, April 14, 2009

Laprensahn.com reported statements by Murilo Portugal, Deputy Managing Director and Acting Chairman of the Board of the International Monetary Fund: "The main economic indicators in Costa Rica are strong and reflect years of generally prudent policies. However, financial turbulence and the world economy carry risks for the country’s outlook in 2009 and 2010. The authorities' economic program seeks to preserve macroeconomic and financial stability, while sustaining growth and protecting the population’s most vulnerable areas."

More on this topic

El Salvador as seen by the IMF

April 2011

For 2011, improved prospects for external and domestic demand are expected to lift output growth, although high global fuel and food prices will increase inflation and the external current account deficit.


IMF Completes Second Review Under Stand-By Arrangement for El Salvador

Honduras Reaches Stand-by Agreement with IMF

September 2010

The agreement, which expires in March 2012, will enable the country to get immediate access to funds worth $196 million.

An International Monetary Fund (IMF) staff mission was in Tegucigalpa between 7 and 10 September to continue discussions on an agreement between Honduras and the IMF to support the government's economic program. At the close, the mission's chief, Mr. Przemek Gajdeczka, issued the following statement:

IMF Evaluates Costa Rican Economy

June 2010

The International Monetary Fund recommended the country’s Central Bank to accelerate the transition to an inflation targets system and implement greater flexibility in the currency exchange rate.

The Executive Board of the International Monetary Fund (IMF) completed on May 28, 2010 the third and final review of Costa Rica’s economic performance under a program supported by a 15-month Stand-By Arrangement (SBA) approved on April 10, 2009 (see Press Release 09/124). The authorities have indicated that they will continue to treat the arrangement as precautionary.

IMF Approves US$790 Million Stand-by Arrangement for El Salvador

March 2010

IMF approved a 36-month, US$790 million Stand-By Arrangement for El Salvador to help the country mitigate the adverse effects of the global crisis.

The new arrangement, which the authorities intend to treat as precautionary, will succeed the 15-month SBA approved on January 16, 2009.

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