The IMF’s Executive Board concludes Review of Colombia's Performance under the Flexible Credit Line (FCL) Arrangement
The Fund reaffirmed Colombia’s continued qualification to access FCL resources.
Publication Date:
Thursday, 27 April 2023
10:03
The Executive Board of the International Monetary Fund (IMF) concluded on 26 April 2023, its midterm review of Colombia's qualification for the arrangement under the Flexible Credit Line (FCL) and reaffirmed Colombia’s continued qualification to access FCL resources.
The IMF’s press release highlighted Colombia’s very strong economic fundamentals and policy frameworks anchored by a flexible exchange rate, a highly credible inflation targeting regime, a solid fiscal framework, and effective supervision and regulation of the financial sector.
Directors supported the precautionary use of the line and welcomed the authorities' commitment to a gradual exit strategy, inasmuch external risks allow so.
