The Central Bank of Costa Rica and Costa Rica's Ministry of Finance published their 2026 financing plan, setting out how the Treasury will cover projected funding needs of CRC 4.2 trillion and how the central bank will conduct liquidity-absorbing issuance with a maximum net take-up of CRC 423 billion. The Ministry of Finance expects to raise CRC 3.9 trillion in the domestic market and CRC 270 billion from external sources through budget-support loans pending legislative approval, and reported it has already captured CRC 1.6 trillion. The strategy includes periodic auctions of securities in colones and foreign currency for both the market-maker programme and the wider market, alongside liability-management operations such as debt exchanges and reverse auctions to improve the public debt maturity profile. For its part, the central bank plans to place short-term Monetary Stabilization Bonds (BEM) via weekly auctions and to offer 2- and 5-year bonds monthly, with the objective of gradually shifting funds currently placed overnight in the Integrated Liquidity Market (MIL) to longer maturities, consistent with the latest Monetary Policy Report estimates. A semiannual review is scheduled for August to assess possible adjustments based on economic performance and financial market conditions.
Central Bank of Costa Rica 2026-02-24
Central Bank of Costa Rica and Costa Rica's Ministry of Finance present 2026 financing plan including CRC 4.2 trillion Treasury needs and CRC 423 billion central bank net absorption cap
The Central Bank of Costa Rica and the Ministry of Finance released their 2026 financing plan, detailing a CRC 4.2 trillion funding strategy. The Ministry aims to raise CRC 3.9 trillion domestically and CRC 270 billion externally, with periodic securities auctions and liability-management operations. The central bank will issue short-term Monetary Stabilization Bonds and longer-term bonds to shift funds from the Integrated Liquidity Market.