The Central Bank of Costa Rica and the Ministry of Finance have presented their 2025 Financing Plan to the market, setting out how each institution expects to raise funds during the year and reaffirming a focus on responsible and efficient debt management. The plan frames external financing as a key lever to reduce pressure on the domestic market and improve overall borrowing conditions, including through eurobond issuance and multilateral budget-support lending that remain subject to legislative approval. The Ministry of Finance projects total financing needs of CRC 3.5 trillion, with CRC 2.7 trillion to be raised in the domestic market and CRC 800 billion from external sources. Domestic funding is expected to rely on periodic auctions of securities in Costa Rican colóns and US dollars, alongside liability management operations such as debt exchanges and reverse auctions aimed at improving the public debt maturity profile; year-to-date, the Treasury has raised CRC 819 billion. For the central bank, the plan sets a maximum net funding target of CRC 596.2 billion, with weekly auctions of short-term Monetary Stabilization Bonds and monthly offerings of 2- and 5-year bonds; it also aims to gradually shift funds deposited in the MIL overnight segment into longer maturities and align auction allocation rates with monetary policy decisions. Both plans include a semi-annual review in August to assess potential adjustments based on economic performance and financial market conditions.

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