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 warned Colombia that it will consider the country’s access to its $8.1 billion Flexible Credit Line, of which we already spent 5,400 dollars on the pandemic. The reasons have to do with the government’s cash-flow problem, which is summed up in the mess—not a minor one—of the refusal to cut this year’s heavy running spending. The most obvious consequence of this warning is that, in the face of the world, Colombia i…

IMF freezes Colombia's access to credit line - LatinFinance

The sovereign’s bonds tumble after IMF restricts access to $8.1 bln facility due to country’s wide budget gap The post IMF freezes Colombia’s access to credit line appeared first on LatinFinance.