IMF Welcomes Colombia’s Interest in a New Flexible Credit

The International Monetary Fund today said it welcomed Colombia’s interest in a new flexible credit line worth $6.1 billion that would help protect the Andean nation from external risks as the economy grows.

“The Colombian economy weathered the global crisis well, and a recovery is underway,” John Lipsky, the IMF’s first deputy managing director, said in a statement. “Well-timed countercyclical monetary and fiscal policies helped mitigate the domestic effects of the global crisis. Sound macroeconomic management provided the authorities with policy space to respond to the adverse shocks.”