Colombia: Arrangement Under the Flexible Credit Line: Staff Report; Staff Supplement; Press Release on the Executive Board Discussion; and Statement by the Executive Director for Colombia
IMF Staff Country Reports, May 19, 2009
Source details
- Canonical URL
- Colombia: Arrangement Under the Flexible Credit Line: Staff Report; Staff Supplement; Press Release on the Executive Board Discussion; and Statement by the Executive Director for Colombia
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Bibliographic details
- Published: May 19, 2009
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781451808971.002
Executive summary and context
- The paper discusses an arrangement under the Flexible Credit Line (FCL) for Colombia.
- Colombia is characterized as "well placed to confront challenges posed by the ongoing global downturn."
- Access under an FCL arrangement of SDR 6.966 billion is proposed, which the authorities intend to treat as precautionary.
- The precautionary FCL would support Colombia’s policy framework and strategy and reduce the likelihood of balance of payments pressures stemming from a change in investor sentiment.
- IMF staff believes that Colombia fully meets the FCL qualification criteria and recommends approval of the arrangement.
Key findings and implications
- An FCL arrangement of SDR 6.966 billion is recommended as precautionary support for Colombia’s policy framework.
- The arrangement is expected to:
- Support Colombia’s existing policy framework and strategy.
- Reduce the likelihood of balance of payments pressures from changes in investor sentiment.
- IMF staff’s assessment: Colombia fully meets the FCL qualification criteria.
Subjects and keywords
- Subject: Credit, Debt service, Economic sectors, External debt, Money, Public debt, Public sector
- Keywords: Colombia, CR, Credit, credit to Colombia, Debt service, FCL arrangement, fund arrangement, Global, IMF's FCL, inflation expectation, ISCR, Public sector, regime