Colombia: Arrangement Under the Flexible Credit Line and Cancellation of Current Arrangement- Press Release; and Staff Report

International Monetary Fund

No 2016/154, IMF Staff Country Reports from International Monetary Fund

Abstract: This paper focuses on recent economic developments as well as the role of the flexible credit line (FCL) arrangement. Despite a large external shock, Colombia’s economy showed remarkable resilience in 2015. The current account deficit reached a record level in 2015, but reserves remained stable. The banking system and corporate sector remained in good financial health. Growth will be subdued in the near future but is projected to gradually return toward potential. The FCL has served Colombia well. The previous FCL arrangements have been instrumental to cope with heightened external risks in recent years, complementing the authorities’ policy response to economic shocks.

Keywords: ISCR; CR; fcl arrangement; Colombia; deficit; debt; amount; anchor inflation expectation; macroeconomic policy; policy flexibility; two-year arrangement; Oil prices; Public sector; Fiscal stance; Global (search for similar items in EconPapers)
Pages: 54
Date: 2016-06-15
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