WASHINGTON, USA – The International Monetary Fund (IMF) has decided to close its Resident Representative Office in San José, which has been headed by Santiago Acosta-Ormaechea, effective mid-October 2025.
The IMF had opened the office in July 2021 to support an enhanced engagement following the executive board’s approval of an Extended Fund Facility (EFF) arrangement for Costa Rica in March 2021 and a Resilience and Sustainability Facility (RSF) arrangement in November 2022.
Costa Rica successfully completed the EFF and RSF arrangements in June 2024. The country currently has a two-year Flexible Credit Line (FCL) arrangement, approved in June 2025, by virtue of its very strong economic fundamentals and institutional policy frameworks.
The IMF looks forward to continuing its close cooperation with Costa Rica primarily through regular bilateral policy consultations and capacity development, as with other IMF member countries. This will be led from IMF headquarters in Washington, DC, as well as through the IMF’s Regional Resident Representative Office for Central America, Panama and the Dominican Republic, based in Guatemala.
The Fund would like to express its appreciation to the Costa Rican authorities for their warm hospitality and generosity over the years.