Colombia draws on IMF’s FCL funds for first time


The Colombian government has made use of its Flexible Credit Line (FCL) for the first time, the International Monetary Fund said on December 3.

The drawing amounted to $5.4 billion and the authorities intend to use it to finance the higher spending required to mitigate the effects of the pandemic in Colombia. The South American country still has access to $12.2 billion more under the programme, which the government intends to treat as precautionary.

“Access to IMF resources will help meet

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