2021 Annual Plan
The Annual Institutional Operational Plan contains the most important goals defined for the 2021 budget period, whose achievement will permit the fulfillment of institutional objectives.
Program 01 Formulation of Monetary and Exchange Policy
| Description of goals | Regular budget (millions of colones) |
1. Recommend the necessary policy measures to ensure that, during 2021, the year-on-year change of the CPI falls within the tolerance range defined by the Board of Directors for the inflation target.
2. Recommend in 2021, when circumstances require it, the necessary actions to prevent the country from incurring a balance of payments crisis, so that the current account deficit remains at levels compatible with its medium- and long-term financing, and the level of net international reserves is consistent with the needs of the Costa Rican economy.
3. Carry out two investigations in 2021 aimed at improving knowledge about transmission mechanisms and effectiveness of the monetary policy.
4. Carry out a study in 2021 that allows the identification of sources of information with digitized administrative records which will facilitate the construction of economic indicators. | 7,110.4 |
Program 02 Implementation of Monetary and Exchange Policy
| Description of goals | Regular budget (millions of colones) |
1. Improve various characteristics of the integrated liquidity market (ILM) through the execution of 100% of the actions programmed in 2021 for that purpose. 2. Design a plan to promote the publication and use of benchmark indices in the stock market and begin its implementation in December 2021.
3. Carry out Open Market Operations (OMO) at market or more favorable prices during 2021.
4. Obtain, at the end of 2021, a return on the net international reserves (NIRs) managed by the Assets and Liabilities Division greater than the return of the approved Strategic Allocation.
5. Implement 100% of the agreements of the Board of Directors related to the “greening" of investments in 2021. | 232,065.0 |
Program 03 Payment System
| Description of goals | Regular budget (millions of colones) |
| 1. Process at least 82.0 million transactions in the National Electronic Payments System (Sinpe) in 2021, equivalent to 18.7% growth in the year. | 13,344.2 |
Program 04 Institutional Support
| Description of goals | Regular budget (millions of colones) |
| The institutional support program includes goals for services related to: Communication management, Development of technological solutions, Maintenance of technological solutions, Development and implementation of data security, privacy and protection, Human talent management, Procurement services, Institutional services, Accounting and financial management, Budget management, Institutional planning, Institutional project management, Quality management, Risk management, Document management, Customer service, Legal advice, Technical secretariat services and Auditing services. | 59,280.9 |
Program 05 Supervision and Regulation
| Description of goals | Regular budget (millions of colones) |
| Corresponds to the transfer made to the Fully Autonomous Bodies. | 30,656.4 |
Program 06 Stability and Efficiency of the National Financial System
| Description of goals | Regular budget (millions of colones) |
1. Promote reduction of financial dollarization and consequent associated risks for the financial system through the execution of 100% of 8 actions programmed for that purpose.
2. Carry out three studies to improve understanding of the risks associated with climate change for the financial system, to strengthen the monitoring of systemic risks and prudential supervision.
3. Comply, at a minimum level of 90%, with the work plan in the execution of tactical actions to strengthen the governance of the country's financial policy in 2021.
4. Achieve a minimum of 70% of the 7 tactical actions programmed to strengthen monitoring and analysis of systemic risks, including a clear link between financial and macroeconomic analysis, and strengthening of the formulation of macroprudential policies.
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Evaluation of results
The report on management of the Central Bank of Costa Rica includes the results obtained during a specified period, related to the achievement of objectives, goals and projects, including budget execution,
as well as financial results.
