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MercoPress, en Español

Montevideo, April 24th 2024 - 09:42 UTC

Tag: Colombia’s fiscal situation

  • Monday, June 4th 2018 - 08:49 UTC

    Colombia renews flexible credit line of US$ 11.4bn with IMF

    Mitsuhiro Furusawa, chair of IMF executive board, says that Colombia’s international reserves are “adequate for normal times”

    In a continuation of a previous arrangement, the International Monetary Fund (IMF) has approved Colombia for a flexible credit line of US$ 11.4 billion. The new two-year arrangement replaces the pre-existing credit line, which has now been cancelled. Colombia will continue to see the funds as precautionary to be used only in if economic conditions worsen due to an external shock or other emergency, according to the IMF.