Costa Rica CBDC Tracker

Costa Rica is in the research phase of its central bank digital currency (CBDC) development.

CBDC History and Development

In August 2021, the Banco Central De Costa Rica published a paper on CBDCs and cryptocurrencies. The paper noted that the central bank has been studying CBDCs in depth, but has not yet seen a reason to launch one. Why? “The reason is simple: the main objectives of [CBDCs] have already been achieved in this country.”

Human Rights and Civil Liberties Concerns

Costa Rica earned a 91 out of 100 in Freedom House’s Freedom in the World report. Even then, however, it’s important to recognize that the creation of a CBDC could open the door to risks to financial privacy and financial freedom.

For additional information on concerns regarding violations of human rights and civil liberties, see the following reports by Amnesty International, Financial Tyranny Index, Freedom House, Human Rights Watch, Privacy International, and the U.S. Department of State. For additional information on concerns regarding the risks of CBDCs, see the following webpage and report by the Cato Institute: The Risks of CBDCs and Central Bank Digital Currency: Assessing the Risks and Dispelling the Myths.

For additional information regarding metrics, the methodology page explains each of the data points and provides their respective sources.