Colombia Seeking Large IMF Loan, but No Decision Expected in Coming Weeks, Sources Say
4 Articles
4 Articles
Colombia seeks large IMF loan, but no decision expected in coming weeks, sources tell Reuters The post Colombia wants large IMF loan of $8-20 billion – Austerity policies looming appeared first on in.gr.
Colombia negotiates a loan of about US$ 15 billion with the International Monetary Fund (IMF), while the government seeks to stabilize its public accounts under pressure, according to people who are aware of the subject. The country and the IMF discuss a stand-by agreement, the sources said, who asked for anonymity because the negotiations are private. Colombia intends to use the resources of the program, instead of keeping it as a preventive li…
Normal access under such an agreement can reach up to 600% of the country's quota in the IMF during the duration of the program, equivalent to $16.6 billion in the case of Colombia
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