Economy & Business - November 2022


COSTA RICA | New IMF resilience and sustainability loan announced. On 4 October Costa Rica’s government led by President Rodrigo Chaves and the International Monetary Fund (IMF) announced a staff-level agreement on a US$710m resilience and sustainability facility (RSF). According to an IMF press release, Costa Rica is one of the first countries to request financing from its newly established RSF to support its agenda to build climate resilience and transition to a zero-carbon economy, while helping catalyse climate financing from other official and private partners. The IMF and Costa Rica also announced an agreement on the third review under the extended fund facility (EFF) which was agreed under the previous government for US$1.78bn, which would make available a further US$264m. The IMF also highlights that the authorities are taking important steps to strengthen Costa Rica’s economic reform programme and “the fiscal targets under the programme were comfortably met.

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