Costa Rica proposes strengthening central bank independence

Central Bank of Costa Rica

Costa Rica’s government has proposed legal changes to strengthen the central bank’s independence, removing the finance minister from its board and reforming its auditing procedures.

“Monetary policy actions can be politically sensitive, so for this reason it is opportune to separate them from political pressure,” the bill’s introductory text reads. The government introduced the proposals into the legislative assembly on June 9, saying they were a response to an International Monetary Fund

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