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The IMF Executive Board approved a SDR 4.4174 billion (about USD 6.2 billion) increase in Colombia's Flexible Credit Line, bringing total access to SDR 12.267 billion (about USD 17.2 billion). The augmentation was granted given Colombia's strong policy framework and larger-than-expected COVID-19 impact.
The facility is designed to address actual and potential balance-of-payments pressures.
Added external liquidity supports the peso and reduces downside currency risk, which tends to lower the USD per COP rate. A firmer peso can marginally ease import costs for Colombian feed buyers.
imf.orgSep 25, 2020Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
