Costa Rica unlocks $519 million from IMF for economic reform, climate programs
2023.06.26 18:16
© Reuters. FILE PHOTO: The International Monetary Fund (IMF) logo is seen outside the headquarters building in Washington, U.S., September 4, 2018. REUTERS/Yuri Gripas/File Photo
(Reuters) – Costa Rica has unlocked a total of around $519 million for its economic reform program and a climate and sustainability program, the International Monetary Fund (IMF) said on Monday.
Around $274 million went to the economic reform program, which is one installment in the more than $1 billion Costa Rica has received from the IMF under the arrangement, the fund said.
Another $245 million goes to the resilience and sustainability arrangement.
The Central American country met its fiscal targets by large margins, Kenji Okamura, acting chair of the IMF board, said in a statement.
“While there is scope for further monetary easing in 2023, policies should remain attentive to risks to the inflation outlook,” he added.
The IMF pegged Costa Rica’s real gross domestic product (GDP) growth for this year at 3.0% and at 3.2% in 2024.
