IMF board approves $18.5 billion flexible credit line for Chile

2022.08.30 00:38

FILE PHOTO: the International Monetary Fund (IMF) headquarters building is seen in Washington, U.S., April 8, 2019. REUTERS/Yuri Gripas

(Reuters) – The Executive Board of the International Monetary Fund (IMF)approved a flexible credit line of around $18.5 billion for Chile to “augment buffers and provide insurance against adverse scenarios,” the IMF said on Monday.

Chilean authorities intend to treat the credit line as “precautionary” and plan to exit the arrangement when conditions allow, the IMF’s Managing Director Kristalina Georgieva said in a statement.

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