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rdf:type	schema:NewsArticle
schema:articleBody	Peru has secured a two-year, $11 billion credit line from the IMF as the South American nation battles the growing impact of the coronavirus pandemic. The Flexible Credit Line, which the IMF announced late Thursday, is a renewable funding mechanism granted to countries with strong economic policy track records, and Peru is only the fourth country to receive one, although Chile also has put in a request. IMF Managing Director Kristalina Georgieva praised Lima's "very strong policy and institutional frameworks" which, she said, "have helped it achieve impressive macroeconomic outcomes and reduce vulnerabilities." However, "The COVID-19 shock poses an extraordinary challenge, which is pushing the Peruvian economy into a recession," she said in a statement. "The authorities have responded decisively by putting in place stringent containment measures and a large policy package to limit the socio-economic fallout." She said the government intends to treat the credit line as "precautionary," and will consider exiting once the crisis has passed and "the insurance provided by an FCL arrangement would no longer be necessary." The country has seen a surge in cases this week, with the death toll approaching 4,000. The IMF has ramped up lending and rolled out a series of new financing tools to help countries deal with the pandemic, which is expected to cause the worst global economic slowdown since the Great Depression. hs/dw
schema:headline	Peru secures $11 bn credit line from IMF
schema:mentions	2009 flu pandemic Great Depression Lima District Renewable energy Recession International Monetary Fund Insurance Peru Chile United States Coronavirus disease 2019 Macroeconomics Data warehouse Kristalina Georgieva
schema:author	http://data.cimple.eu/organization/1f0054d541e000623a2c1e561a247c073ef6328e8be9ffafda7b3fcd
schema:datePublished	2020-05-29 (xsd:date)
http://data.cimple...sPoliticalLeaning	other political leaning
http://data.cimple...logy#hasSentiment	neutral sentiment
http://data.cimple...readability_score	93 (xsd:integer)
http://data.cimple...tology#hasEmotion	happiness

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