This agreement, valued at USD 8.1 billion and extended for a period of two years, is part of the Flexible Credit Line (LCF), designed specifically to prevent financial crises.
The announcement was made by the Minister of Finance and Public Credit, Ricardo Bonilla, who highlighted that The country meets the criteria required to access this type of financing, thanks to the solidity of its economic foundations and institutional economic policy frameworks. Bonilla highlighted that the track record of implementing sound economic policies and the commitment to maintaining them have been key in the IMF’s decision.
According to the minister, This agreement will contribute significantly to strengthening market confidence international in the Colombian economy. In addition, it will serve as a backup against possible negative external risks, especially in a global context marked by economic uncertainty.
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It is important to highlight that the amount of the renewed credit reflects the Colombian government’s strategy of gradually reduce your dependence on this type of financing, as economic risks decrease. Bonilla emphasized that this measure is part of a broader strategy of gradual exit from the LCF, which demonstrates the country’s commitment to responsible management of its financial resources.
In summary, the renewal of the credit agreement with the IMF represents key support for the Colombian economy at a time of global economic challenges.
The head of the Treasury and Public Credit portfolio maintained that “the lower level of access reflects the authorities’ goal of continuing to reduce it as the risks allow it in the context of their gradual exit strategy from the LCF.”
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