{"id":44560,"date":"2022-04-30T12:30:38","date_gmt":"2022-04-30T07:30:38","guid":{"rendered":"https:\/\/pni.net.pk\/en\/?p=44560"},"modified":"2022-04-30T01:38:45","modified_gmt":"2022-04-29T20:38:45","slug":"imf-board-approves-two-year-9-8-bn-credit-line-for-colombia","status":"publish","type":"post","link":"https:\/\/pni.net.pk\/en\/latest-business-news\/imf-board-approves-two-year-9-8-bn-credit-line-for-colombia\/","title":{"rendered":"IMF board approves two-year $9.8 bn credit line for Colombia"},"content":{"rendered":"<p>Washington, April 29 (AFP\/APP): The IMF&#8217;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.<\/p>\n<p>&#8220;The new arrangement under the Flexible Credit Line will reinforce market confidence and provide added insurance against external risks,&#8221; such as high inflation and the fallout from the war in Ukraine, IMF Deputy Managing Director Antoinette Sayeh said in a statement.<\/p>\n<p>&#8220;The authorities intend to continue to treat this new arrangement as precautionary and to gradually phase out use of the instrument, conditional on a reduction of global risks.&#8221;<\/p>\n<p>The new credit line cancels a previous $17.2 billion arrangement agreed to in September 2020 to help the country cope with disruptions caused by the Covid-19 pandemic.<\/p>\n<p>Colombia has had a Flexible Credit Line since 2009 and the IMF board has renewed it every two years, providing the country with money that could be deployed to head off a crisis.<\/p>\n<p>Sayeh noted that Colombia &#8220;has very strong economic fundamentals&#8221; and &#8220;the authorities remain firmly committed to maintaining very strong macroeconomic policies going forward,&#8221; noting its economy is recovering from the pandemic and the government is working to raise living standards.<\/p>\n<p>&#8220;With a robust recovery underway but risks tilted to the downside, Colombia has taken steps to normalize policies from a crisis footing and manage higher inflation, while strengthening public finances and reducing external imbalances,&#8221; she said in her statement.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Washington, April 29 (AFP\/APP): The IMF&#8217;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. &#8220;The new arrangement under the Flexible Credit Line will reinforce market [&#8230;]<\/p>\n<p>\n","protected":false},"author":2,"featured_media":44562,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[],"class_list":["post-44560","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-latest-business-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO 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