NEW YORK, June 27 — Costa Rica has unlocked a total of around US$519 million (RM2.45 billion) for its economic reform programme and a climate and sustainability programme, the International Monetary Fund (IMF) said yesterday.

Around US$274 million went to the economic reform programme, which is one instalment in the more than US$1 billion Costa Rica has received from the IMF under the arrangement, the fund said.

Another US$245 million goes to the resilience and sustainability arrangement.

The Central American country met its fiscal targets by large margins, Kenji Okamura, acting chair of the IMF board, said in a statement.

"While there is scope for further monetary easing in 2023, policies should remain attentive to risks to the inflation outlook,” he added.

The IMF pegged Costa Rica’s real gross domestic product (GDP) growth for this year at 3.0 per cent and at 3.2 per cent in 2024. — Reuters