Economics
IMF Builds a $107 Billion Safety Net Under Key Latin Economies
- Chile and Peru join Mexico, Colombia with flexible credit line
- Region close to accounting for 50% of global COVID-19 deaths
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The International Monetary Fund has extended its safety net under some of Latin America’s biggest economies as the global pandemic hits the region particularly hard.
After markets suffered a free-fall in the first quarter, Chile and Peru rushed to join Mexico and Colombia as the only nations in the world with access to the Fund’s Flexible Credit Line, or FCL.