Banco Central de Costa Rica

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2015-2018 Strategic Plan

 

The 2015-2018 Strategic Plan of the Banco Central de Costa Rica includes the guidelines that will govern the Institution in the following four years, to comply with the institutional responsibilities set forth in its Organic Law

 

 Región de Acordeón

Governing ideas

Mission:

Contribute to society’s well-being, by maintaining the internal and external stability of the currency, its conversion into other foreign currencies, and contributing to the full use of productive resources.

 

Vision:

To be a central bank acknowledged by society for its ethics, technical capacity and transparent operation, with a commitment to achieving its mission.

 

Values:

 

Permanent improvements: We promote a culture of permanent improvement, and adopt best practices in the Bank’s management, to provide high-quality services.

 

Integrity: We are dependable, act with rectitude and integrity, and comply with our commitments.

 

Transparency: We promote accountability and report in a clear, accurate and timely fashion on our actions.

 

Commitment: We carry out our work and the responsibilities that it entails with discipline and honesty.

 

Strategic pillars

Human Resources: Promote high performance of the BCCR’s human resources by developing operational excellence to achieve the Institution’s goals.

 

Processes: Promote management based on permanent improvements and process innovation, applying good practices and risk management, seeking to achieve our proposed goals and fulfill customer needs.

 

Technology: Manage the Bank’s services by streamlining process efficiency and quality, and adding value to the Institution.

 

Communication: Improve understanding of the functioning of the economy, delivering clear and timely messages related to monetary, exchange and financial policies.

 

Institutional goals

The principal goals of the Banco Central de Costa Rica are:

 

Maintain internal stability of the national currency

 

Maintain external stability of the national currency and guarantee its free conversion into other foreign currencies

 

Promote the country’s economic growth to achieve full use of its productive resources

 

Promote stability, competitiveness and efficiency of the financial intermediation system

 

Promote efficiency of the domestic payment system and maintain its normal operation

 

Achieve an internal organization aimed at operational excellence

 

Principal functions

The principal functions of the Banco Central de Costa Rica are:

 

• To maintain external value and conversion of the national currency.

 

• To safeguard and manage the country’s International Monetary Reserves.

 

• To define and manage the monetary and exchange rate policy.

 

• To act as the State’s advisor and cashier bank.

 

• To promote favorable conditions for strengthening the National Financial System’s liquidity, solvency and proper functioning.

 

 

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