Economics
Chile Gets $18.5 Billion IMF Credit Line to Weather Risks
- The two-year flexible line will be treated as precautionary
- Chile economy confronting sharp increase in global risks: IMF
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Chile received a $18.5 billion flexible credit line from the International Monetary Fund, boosting the central bank’s ability to defend the beleaguered peso amid an increase in global risks and political uncertainty.
The two-year credit line will “augment buffers and provide insurance against adverse scenarios,” the Washington-based lender said in a statement on Monday. The credit line will be treated as precautionary.