Special and temporary medium-term financing facility, ODP** (Deferred Term Operations, whose acronym in Spanish is ODP)
In a session held on September 2, 2020, the Board of Directors of the Banco Central de Costa Rica (BCCR) approved the creation of a special medium-term credit facility for financial intermediaries regulated by the General Superintendency of Financial Entities (Sugef).
The new instrument seeks to mitigate the economic impact of the pandemic on consumption, production and employment, thus contributing to reducing the permanent consequences of the crisis on the well-being of families and on the business community. The global amount of the facility is ₡700 billion, which was calibrated to allow meeting proposed objectives without compromising the Central Bank's inflation target.
Report on Deferred Term Operations (ODP)