Costa Rica: CB Macroeconomic Program

CENTRAL AMERICA - Report 04 Aug 2020 by Francisco de Paula Gutiérrez and Felix Delgado

The Central Bank of Costa Rica released the mid-term revision of the macroeconomic program for 2020-2021 on July 30th. After updating the pandemic evolution, here and abroad, the Bank concludes that the provisional April assumptions on the public health and economic activity consequences don’t hold, since conditions have worsened noticeably in June and July. A second and more aggressive wave of the pandemic is in course. Therefore, the pace of the economic and social reopening is now in question. In fact, the wide metropolitan area around San Jose and the other large central cities are suffering restrictions again that will tighten for almost two weeks, between August 10th to 22nd.

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