Summary: Republic of Costa Rica - S&P Global Ratings’ Credit Research

Summary: Republic of Costa Rica

Summary: Republic of Costa Rica - S&P Global Ratings’ Credit Research
Summary: Republic of Costa Rica
Published Jul 29, 2008
801 words — Published Jul 29, 2008
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Abstract:

The sovereign credit rating on the Republic of Costa Rica reflects its monetary inflexibility because of persistently high inflation and exchange-rate rigidity. Inflation rose to 9% in 2007 and could be higher this year. Moreover, quasi-fiscal losses of the central bank (which reached 0.7% of GDP in 2007) and a high level of dollarization in the financial system weaken the effectiveness of Costa Rica's monetary policy. Costa Rica's inflexible exchange-rate arrangement sustains external vulnerability. Costa Rica had operated a crawling exchange rate peg (in the context of an open capital market) that provided stability and maintained export competitiveness but placed much of the exchange-rate risk on to the balance sheet of the central bank. The central bank has shifted to

  
Brief Excerpt:

RESEARCH Summary: Republic of Costa Rica Publication date: 29-Jul-2008 Primary Credit Analyst: Joydeep Mukherji, New York (1) 212-438-7351; joydeep_mukherji@standardandpoors.com Secondary Credit Analyst: Roberto Sifon Arevalo, New...

  
Report Type:

Summary

Ticker
172385Z@CR
Issuer
Costa Rica (Republic of)
Sector
Global Issuers, Structured Finance
Country
Costa Rica
Region
Latin America
Format:
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MLA:
S&P Global Ratings’ Credit Research. "Summary: Republic of Costa Rica" Jul 29, 2008. Alacra Store. May 13, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Summary-Republic-of-Costa-Rica-662076>
  
APA:
S&P Global Ratings’ Credit Research. (). Summary: Republic of Costa Rica Jul 29, 2008. New York, NY: Alacra Store. Retrieved May 13, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Summary-Republic-of-Costa-Rica-662076>
  
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