IMF board approves two-year $9.8 bn credit line for Colombia

The IMF’s Executive Board on Friday approved a two-year, $9.8 billion credit line for Colombia that the South American country can use to help its economy weather shocks from abroad.

“The new arrangement under the Flexible Credit Line will reinforce market confidence and provide added insurance against external risks” such as high inflation and the fallout from the war in Ukraine, IMF Deputy Managing Director Antoinette Sayeh said in a statement.