Colombia requests $ 5.3 bn IMF loan

The Colombian Ministry of Finance has already received authorization to request from the International Monetary Fund 3.75 billion special drawing rights, corresponding to $ 5,371 million that are part of the Flexible Credit Line. The term to pay these resources is five years, although the country has a three-year grace period. The amortizations will be made in eight quarterly installments and the interest rate will have the variable special drawing rights (SDR) plus a fixed margin of 1%. Colombia is the first country in history that uses the disbursement of the flexible credit line and the resources will be used to finance appropriations of the General Budget of the Nation of 2020.

Source: Dinero