Costa Rica - Lending interest rate (%)

The latest value for Lending interest rate (%) in Costa Rica was 5.51 as of 2021. Over the past 39 years, the value for this indicator has fluctuated between 38.88 in 1991 and 5.51 in 2021.

Definition: Lending rate is the bank rate that usually meets the short- and medium-term financing needs of the private sector. This rate is normally differentiated according to creditworthiness of borrowers and objectives of financing. The terms and conditions attached to these rates differ by country, however, limiting their comparability.

Source: International Monetary Fund, International Financial Statistics and data files.

See also:

Year Value
1982 25.00
1983 23.25
1984 18.00
1985 20.92
1986 21.80
1987 23.82
1988 28.69
1989 29.17
1990 32.56
1991 38.88
1992 28.46
1993 30.02
1994 33.03
1995 36.70
1996 26.27
1997 22.48
1998 22.47
1999 25.74
2000 24.89
2001 23.83
2002 26.42
2003 25.58
2004 23.43
2005 24.66
2006 22.19
2007 12.80
2008 15.83
2009 19.72
2010 17.09
2011 16.15
2012 18.21
2013 15.19
2014 14.90
2015 14.23
2016 11.64
2017 11.37
2018 11.12
2019 8.75
2020 6.64
2021 5.51

Development Relevance: Both banking and financial systems enhance growth, the main factor in poverty reduction. At low levels of economic development commercial banks tend to dominate the financial system, while at higher levels domestic stock markets tend to become more active and efficient. The size and mobility of international capital flows make it increasingly important to monitor the strength of financial systems. Robust financial systems can increase economic activity and welfare, but instability can disrupt financial activity and impose widespread costs on the economy.

Limitations and Exceptions: Countries use a variety of reporting formats, sample designs, interest compounding formulas, averaging methods, and data presentations for indices and other data series on interest rates. The IMF's Monetary and Financial Statistics Manual does not provide guidelines beyond the general recommendation that such data should reflect market prices and effective (rather than nominal) interest rates and should be representative of the financial assets and markets to be covered. For more information, please see http://www.imf.org/external/pubs/ft/mfs/manual/index.htm.

Statistical Concept and Methodology: Many interest rates coexist in an economy, reflecting competitive conditions, the terms governing loans and deposits, and differences in the position and status of creditors and debtors. In some economies interest rates are set by regulation or administrative fiat. In economies with imperfect markets, or where reported nominal rates are not indicative of effective rates, it may be difficult to obtain data on interest rates that reflect actual market transactions. Deposit and lending rates are collected by the International Monetary Fund (IMF) as representative interest rates offered by banks to resident customers. The terms and conditions attached to these rates differ by country, however, limiting their comparability. In 2009 the IMF began publishing a new presentation of monetary statistics for countries that report data in accordance with its Monetary Financial Statistical Manual 2000. The presentation for countries that report data in accordance with its International Financial Statistics (IFS) remains the same.

Periodicity: Annual

Classification

Topic: Financial Sector Indicators

Sub-Topic: Interest rates