Colombia has drawn $5.4 billion from flexible credit line, IMF says

Colombia has drawn $5.4 billion from its flexible credit line with the International Monetary Fund, the body said on Thursday, which the country will use to help mitigate the impact of the coronavirus pandemic. “The authorities will use the drawing to help meet higher financing needs whilst maintaining strong external buffers in a context of heightened global uncertainty,” the IMF said in a statement. Meanwhile, the country’s central bank announced it would buy $1.5 billion from the government for its international reserves.

Source: Reuters