IMF: New Credit Lines for Colombia, Angola, Guinea Bissau

The International Monetary Fund's headquarters in Washington. Photo by: JavierPsilocybin / CC BY 2.0 JavierPsilocybinCC BY 2.0

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.

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  • Ivy Mungcal

    As former senior staff writer, Ivy Mungcal contributed to several Devex publications. Her focus is on breaking news, and in particular on global aid reform and trends in the United States, Europe, the Caribbean, and the Americas. Before joining Devex in 2009, Ivy produced specialized content for U.S. and U.K.-based business websites.