In a significant financial development, the International Monetary Fund (IMF) on Friday announced plans to provide an additional $510 million to Costa Rica following a successful evaluation mission. The move is a major boost for Costa Rica’s national economy, with the IMF predicting economic growth of 4% this year.
The funds will be released pending approval by the IMF’s Executive Board. Costa Rica’s positive review under the Extended Fund Facility (EFF) will make the first tranche of $270 million available. The system supports countries facing structural economic challenges, and this review marks the completion of Costa Rica’s sixth cycle.
In addition, Costa Rica will receive an additional $240 million if it successfully implements reforms under the Resilience and Sustainability Arrangement. This funding is earmarked to strengthen Costa Rica’s economic stability and resilience to external shocks and underpins the IMF’s support for Costa Rica’s ongoing economic reforms.
These moves come at a critical time as Costa Rica continues to implement important economic policies aimed at fiscal discipline and inclusive growth. The expected financial injection from the IMF will significantly support these efforts and ensure that Costa Rica remains on the path to improved economic health.
