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IMF says Colombia seeks new $6 billion credit line

Tuesday, May 7, 2013


The International Monetary Fund said on Monday Colombia has requested a new flexible credit line to replace its previous $6 billion two-year program with the Fund, which should expire this month.

"I share the authorities' view that a successor flexible credit line arrangement would provide Colombia with useful protection against external tail risks," Nemat Shafik, a Fund deputy managing director, said.

"I therefore intend to move ahead rapidly in seeking approval by the Fund's Executive Board of Colombia's request."


Source: Reuters