Capital Markets Development

closed

The overall objective of the program is to strengthen thecapital market in Costa Rica by creating an environment conducive to the emergence of a credible and efficient public debt market that can later serve as a basis for private-sector debt and equity issues. The specific objectives of the program are to achieve improvements in public debt management policy,including improvements in auction placement procedures and standardized public debt issues. This action is to be complemented by the design of a central book-entry system to record the transfer of ownership of securities, as well as the establishment of an associated clearing and settlement system consistent with the international standards established by the Group of Thirty. The program will also support the restructuring of the CNV.