IMF urges Costa Rica to shore up financial stability defences
Fund calls for increased transparency from financial stability committee
The International Monetary Fund has recommended that Costa Rica’s central bank “strengthen the effectiveness” of its newly formed financial stability committee to better safeguard the country’s financial system.
In the fund’s latest financial stability assessment of the Central American nation, IMF staff note that while the committee is still in its “infancy”, it could be “empowered” by turning the current framework into law.
“[The committee] has only soft powers, which limits its ability to
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