Colombia to treat new credit line as ‘insurance’ against extreme shocks
IMF expands agreement with Colombia to $11.5 billion
Colombia has agreed an $11.5 billion flexible credit line (FCL) with the International Monetary Fund – over double the size of the previous $5.4 billion arrangement.
The FCL is a renewable credit line, which can be approved for either one or two years. Colombia has agreed a two-year deal, which involves a review of eligibility after the first year.
Colombian authorities stress they intend to treat the new facility as precautionary, and do not intend to draw on it. The repayment period for any
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