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rdf:type	schema:NewsArticle
schema:articleBody	The International Monetary Fund on Friday announced it had raised by $6.5 billion a credit line offered to Colombia to about $17.2 billion to help the country cope with the economic effects of Covid-19. "The augmentation was approved in light of Colombia's continued qualification with very strong institutional policy frameworks, track record of economic performance and policy implementation, and against a backdrop of higher external risks and a larger than expected adverse impact from Covid-19 pandemic," the Washington-based crisis lender said in a statement. Colombia has had a Flexible Credit Line (FCL) since May 2009, and the IMF board has renewed it every two years, providing the country with money that could be deployed to head off a crisis. The latest renewal in May was for $10.8 billion, but deputy IMF managing director Antoinette Sayeh said in a statement Colombia's downturn was deeper than expected and the country is set for its worst recession on record. "The augmentation of access under the current FCL arrangement will help Colombia manage heightened external risks, protect ongoing efforts to effectively respond to the pandemic, continue to integrate migrants from Venezuela, foster inclusive growth and reduce external vulnerabilities," she said. Colombia is one of five countries that have received an FCL, along with Chile, Mexico, Peru and Poland, which exited the arrangement in late 2017. None of the countries have drawn on the funds, the IMF said. cs/acb
schema:headline	IMF raises Colombia's credit line to $17.2 bn
schema:mentions	2009 flu pandemic Recession International Monetary Fund Poland Peru Chile Venezuela Colombia Mexico Coronavirus disease 2019 Antoinette Sayeh Cricket Australia
schema:author	http://data.cimple.eu/organization/1f0054d541e000623a2c1e561a247c073ef6328e8be9ffafda7b3fcd
schema:datePublished	2020-09-25 (xsd:date)
http://data.cimple...sPoliticalLeaning	other political leaning
http://data.cimple...logy#hasSentiment	neutral sentiment
http://data.cimple...readability_score	80 (xsd:integer)

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