07:32 GMT22 January 2021
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    WASHINGTON (Sputnik) - The International Monetary Fund has approved a two-year $10.8 billion credit line for Colombia, the Fund announced in a statement Friday.

    “The Executive Board of the International Monetary Fund (IMF) approved today a successor two-year arrangement for Colombia under the Flexible Credit Line (FCL) in an amount equivalent to SDR 7.8496 billion (about US$10.8 billion) and noted the cancellation by Colombia of the previous arrangement”, the statement said.

    On 15 April, the International Monetary Fund approved $389 million in emergency funding for El-Salvador to help cushion the nation’s economy from the impact of nationwide restrictions on transportation and quarantine for citizens exposed to the coronavirus.

    In March, the IMF provided Honduras $143 million to combat the coronavirus disease (COVID-19) under the current SBA/SCF arrangement (Stand-By Arrangement, Stand-By Credit Facility).

    Previously, the IMF said it was providing some $100 billion as a short-term liquidity line to more than 100 countries requiring emergency financing due to hardship caused by the COVID-19 pandemic.

    credit line, credit, IMF, Colombia
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