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Colombia requests IMF credit line

Colombia has become the third country to request a credit line from the International Monetary Fund (IMF) under the Flexible Credit Line (FCL) facility, asking for $10.4 billion (£7.14 billion), according to the fund.

Mexico has received approval for a $47 billion credit line, while the IMF is considering an application from Poland for a $20.5 billion facility.

The FCL was introduced in March to help combat strains on national economies as a result of the economic crisis, and countries can draw on the credit at any time for a specified period after it is approved.

“The Colombian authorities have responded appropriately to the global financial crisis, and have demonstrated a commitment to maintaining this solid record. I therefore intend to move ahead rapidly in seeking approval by the Fund’s Executive Board of Colombia’s request for an FCL arrangement,” said Dominique Strauss-Kahn, the managing director of the IMF, in a statement.


Related Articles:
Mexico $47 billion IMF credit line approved
Poland requests IMF credit line

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Colombia requests IMF credit line

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