The International Monetary Fund (IMF) announced it will close its Resident Representative Office in San José, Costa Rica, effective mid-October 2025. The office has been led by Mr. Santiago Acosta-Ormaechea since its opening in July 2021.
The IMF established the office to support engagement with Costa Rica after the Executive Board approved an Extended Fund Facility (EFF) arrangement in March 2021 and a Resilience and Sustainability Facility (RSF) arrangement in November 2022. Both arrangements were completed by Costa Rica in June 2024.
Currently, Costa Rica is under a two-year Flexible Credit Line (FCL) arrangement, which was approved in June 2025. This arrangement reflects the country's strong economic fundamentals and institutional policy frameworks.
Future cooperation between the IMF and Costa Rica will continue through regular bilateral policy consultations and capacity development initiatives. These activities will be managed from IMF headquarters in Washington, D.C., as well as through the Regional Resident Representative Office for Central America, Panama, and the Dominican Republic located in Guatemala.
"The Fund would like to express its appreciation to the Costa Rican authorities for their warm hospitality and generosity over the years," according to the statement from the IMF.