The Central Bank of Costa Rica (BCCR) has cleared the path for the government to issue up to $13.5 billion in eurobonds, issuing a positive technical opinion on the proposed legislation.
The board's approval comes with significant caveats, as the central bank highlighted several points that require reconsideration before the measure proceeds.
Notably, the decision was not unanimous, with one board director voting against the recommendation.
The legislation, identified as bill 25.363, would authorize the Ministry of Finance to place securities in international markets.
The central bank's conditional support signals that while the issuance is technically feasible, policymakers must address specific structural or fiscal concerns raised by the monetary authority.
The dissenting vote underscores internal debate over the scale or terms of the proposed borrowing.