Central Bank of Costa Rica should not have a growth target, says IMF
IMF also recommends the elimination of the exchange rate band
The credibility of the Central Bank of Costa Rica could be undermined if the country's authorities expand the central bank's mandate to include growth, the International Monetary Fund has said, following its latest Article IV mission.
In its concluding statement, the IMF argued that a growth objective "could generate confusion as to the true target of monetary policy, thereby undermining its credibility.".
The Central Bank of Costa Rica shares the IMF's view. "The institution has repeatedly
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