Colombia cancels $8.4bn credit line with IMF
Announcement comes after fund said facility would stay suspended due to country’s fiscal problems
Colombia has cancelled a credit line with the International Monetary Fund after the institution said the facility would remain suspended because of the country’s weakening fiscal position.
In an announcement on October 1, the Central Bank of Colombia said it had decided to cancel the flexible credit line (FCL) agreement with the IMF. The facility allowed the country to borrow up to 6,133.5 million special drawing rights, equivalent to $8.4 billion.
The bank emphasised that Colombia’s international
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