The International Monetary Fund’s Executive Board approved May 7 a USD3.46 billion flexible credit line for Colombia. The new loan succeeds the country’s first flexible credit line from IMF worth USD10.5 billion. Colombia is the second country, after Mexico, to formally request a second flexible credit line.
Angola is also set to receive IMF funds after the executive board approved the first review of the country’s performance under its stand-by agreement with the fund. The board’s nod approves the disbursement of some USD171.5 million, bringing IMF’s total disbursement under the stand-by agreement to USD514.5 million.
The IMF board will provide a three-year extended credit facility worth USD33.3 million to support the medium-term economic program of Guinea Bissau. The fund also approved a USD1.5 million payment for the country under the IMF’s interim assistance for heavily indebted poor countries.