IMF suspends Colombia's flexible credit line amid fiscal concerns

IMF suspends Colombia's flexible credit line amid fiscal concerns

The IMF has suspended Colombia's access to its Flexible Credit Line (FCL), worth approximately $8.1bn and in place since 2009, citing concerns over the country's fiscal management.

IMF tightens the reins on Colombia

Colombian President Gustavo Petro said the International Monetary Fund (IMF) authorities were “vampires” who suspended his country's access to a US$ 8.1 billion flexible credit line on Saturday.

IMF Suspends Colombia’s Flexible Credit Line on Fiscal Concerns

The International Monetary Fund suspended on Saturday Colombia’s flexible credit line due to the lack of measures to reduce public deficit and debt, which have risen more than expected in the fund’s eyes.

Technical meetings are expected to be held to analyse the results of the evaluation and define the future of the financial relationship with IMF

The International Monetary Fund (IMF) has established conditions for Colombia's access to its flexible credit line of 8.1 billion US dollars, a precautionary measure for crisis prevention and reduction, effectively preventing the South American country from accessing these funds. Colombia has had access to a similar instrument since 2009, but used it only once a year [...] The post IMF denies Colombia access to a credit line first appeared on la…

The Washington institution suspended for the first time a line of credit to a country because of the lack of improvement in the budgetary situation, which makes it difficult for Colombia, whose assets suffer as a result of this decision.