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COUNTRY INSIGHTS

Expansion, with inflation
CENTRAL AMERICA · Report · 01 Aug 2022

Costa Rica presented a mixed picture during H1. On the positive side, the economy displayed good economic activity momentum; fiscal accounts kept improving, despite the attack by Conti; credit in domestic currency expanded nicely; and nearshoring remained strong. On the negative side, the country...

COSTA RICA: Coping with the inflation challenge
CENTRAL AMERICA · Report · 28 Jun 2022

Costa Rica’s most important economic feature in the first two months of the new Rodrigo Chaves administration has been the challenge for Central Bank policies, due to mounting global inflation that has exceeded the upper bound of Bank targets, coupled with rising FX pressures. Although at first s...

Consequences of the Russia-Ukraine war
CENTRAL AMERICA · Report · 31 May 2022

Costa Rica´s growth will slow in 2022, but won´t stop over the consequences of the Russia-Ukraine conflict. Three transmission channels will negatively impact the economy: less favorable external trade, higher international prices and tighter financial conditions. These factors are pushing growth...

Costa Rican President Elect completes the economic cabinet
CENTRAL AMERICA · In Brief · 02 May 2022

Fernando Naranjo and Félix DelgadoPresident Elect appointed key members of the economic cabinetOn April 30th, President Elect Rodrigo Chaves informed about three important posts in his government: Minister of Finance and Economy and Central Bank President.The Minister of Finance will by Nogui Aco...

El Salvador: Growth and international friendship flag
CENTRAL AMERICA · Report · 28 Apr 2022

El Salvador’s robust 2021 post-pandemic economic growth is expected to fade in 2022, returning to a potential growth rate a little lower than before COVID-19. As the optimistic view of the world economy moderates due to new and old negative events, our previous estimates move in the same directio...

COSTA RICA: Rodrigo Chaves elected president, 2022-2026
CENTRAL AMERICA · In Brief · 04 Apr 2022

Rodrigo Chaves, former minister of finance, won the presidential runoff on Sunday, April 3, according to preliminary results published by the Electoral Supreme Court. The turnout was one of the lowest in decades as voters expressed discontent with both candidates. Chaves won 52.8% of the valid vo...

Guatemala: Robust growth to gradually fade
CENTRAL AMERICA · Report · 31 Mar 2022

For second year in a row, Guatemala´s performance has been better than that of its regional partners. The economy showed strong growth, good external accounts, a notable improvement in the fiscal area and stable macro prices. Room for a second rebound will fade in 2022 and disappear in 2023. Guat...

A livelier rebound
CENTRAL AMERICA · Report · 25 Feb 2022

Costa Rica showed a higher-than-expected rebound of economic activity in 2021, driven by a favorable external evolution, particularly in the United States, the country’s major economic and trading partner. Perspectives for the outlook horizon will be conditioned by the presidential election outco...

Costa Rica: Undecided voters upset the election results again
CENTRAL AMERICA · Report · 08 Feb 2022

On February 6, 2022, 25 candidates were in the running in the presidential election, while 36 parties ran for Congress. Four years before, those figures were much lower, at 13 and 25, respectively. Surveys have shown high volatility and important differences among them. A second runoff election w...

Costa Rica: Monetary Policy Report 2022-2023
CENTRAL AMERICA · Report · 01 Feb 2022

On January 28, the Central Bank of Costa Rica released its Monetary Policy Report for 2022-2023 (previously known as the "Macroeconomic Program"). The main indicators can be found in our report. The Central Bank included preliminary estimates for 2021, with better results than expected in some...

Costa Rica: Elections critical for the IMF deal and macroeconomic performance
CENTRAL AMERICA · Report · 31 Jan 2022

Costa Rica´s presidential election is around the corner. With a record number of candidates, growing voter dissatisfaction and a large percentage of undecided voters, the winner is still uncertain. Four candidates are struggling to win a spot for the second round in April. Their economic views re...

Robust rebound, with political complications
CENTRAL AMERICA · Report · 20 Dec 2021

Costa Rica’s Christmas season promises more economic activity, as is usual at this time of year, while unemployment figures are slowly falling. The virtual removal of mobility restrictions and more flexibility for gathering have been key measures, favored by a good pace of vaccination, while new ...

Rebound – but with challenges ahead
CENTRAL AMERICA · Report · 29 Nov 2021

Costa Rica’s Presidential elections will be held on February 6th, 2022. Right now there are 27 presidential candidates, none of them have the 40% of the vote, according to recent polls. Elections will gravitate around three subjects: unemployment, the cost of living and corruption in government. ...

Recovery and corruption
CENTRAL AMERICA · Report · 29 Oct 2021

Costa Rica’s economic activity continues recovering, after COVID-19’s disruptive effects. External demand is the main driver, as shown by short-term indicators. In fact, most of the dynamism comes from the export-oriented free-trade zones, while the so-called “definitive regime” lags far behind. ...

Webinar Replay: Central America and the Caribbean
CENTRAL AMERICA · Report · 29 Oct 2021

Gain insights into the issues that matter the most for the Central America and Caribbean region, focusing on El Salvador, the Dominican Republic, Costa Rica, Panama, and The Bahamas. Visit our calendar page to watch the webinar replay.

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