Costa Rica
People: April to June 2022
A round-up of central bankers in the news and on the move during the past three months
The Central Banking Awards 2022 virtual ceremony
View the trophy presentations and acceptance comments from the winners of the ninth annual Central Banking Awards
Costa Rican authorities tell president reserves are sufficient
Chaves had complained of “very few reserves” at Davos
Costa Rican president-elect names next governor
Róger Madrigal López will lead central bank once new administration takes office on May 8
Costa Rica increases pace of monetary tightening
Central bank hikes rates by 150bp as core and headline inflation continue to rise
Central Banking Awards 2022: third group revealed
Awards recognise payments, currency, regulatory technology and financial market infrastructure
Currency manager: Central Bank of Costa Rica
New banknotes and coins combine environmental protection, aesthetics and security
Central Bank of Costa Rica accelerates tightening cycle
Larger rate hike comes as invasion of Ukraine adds to existing inflationary pressures
Costa Rica orders second consecutive rate hike
Inflation remains within target band but risks “lean to the upside”, board says
Costa Rica raises rates for first time in three years
Central bank raises policy rate by 50 basis points as Latin America faces rising inflation
Three in 10 currency departments have a climate strategy
Around half of central banks recycle banknotes but few measure their carbon footprint
People: IMF deputy managing director to leave
Mitsuhiro Furusawa to depart IMF; Brazil and Costa Rica to appoint board members; and more
Cubero calls for expanded IMF role
Costa Rica governor endorses Resilience and Stability Trust proposal
Recipe for a chief (fin)tech officer
Private-sector experience, a knowledge of supervision and a zest for innovation are key ingredients for a chief fintech officer
Are we entering the polymer age?
CCL Secure explores the security and anti-counterfeit benefits of polymer banknote technology. As this developing technology reveals its advantages over traditional paper-based banknotes, could we soon see a shift in the status quo in polymer’s favour?
People: Central Bank of Brazil deputy governor resigns
Jens Weidmann re-elected as chair of BIS board of directors; Rwanda appoints new deputy governor; two former governors of the Costa Rican central bank die
IMF staff lay ground for $1.8 billion loan to Costa Rica
Staff set terms for three-year loan as high debt and Covid-19 take toll; earlier agreement foundered amid public protests
Costa Rica launches new conditional lending facility
Banks can receive funding on the condition they submit lending plans to the central bank
Costa Rica to issue first polymer banknotes
Central bank will retain size and colour of existing notes to smooth transition to new substrate
Fears rise over breakdown in Basel and IFRS standards
Bretton Woods institutions worried about growing divergence in capital and accounting standards as credit impairment tsunami looms; US and many emerging economies skirting the rules
IMF extends Article IV consultations as it steps up aid efforts
Nine more countries receive IMF aid as demand continues at “unprecedented” levels
Costa Rican central bank pulled into fiscal debate
Government split on how fiscal rule should be calculated as fiscal deficit continues upward trend
Costa Rica cuts rates for fourth time since March
Central bank adds to wave of more accommodative policy stances around the world
Uribe details aggressive Flar expansion plans
The Latin American fund chief, José Darío Uribe, speaks about: Flar’s efforts to support macroeconomic and financial stability; exposure to Venezuela; and more