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  • Breaking News

    IMF to recommend approval of $23.8b FCL for Chile

    IMF Managing Director Kristalina Georgieva.jpg
    IMF Managing Director Kristalina Georgieva
    WASHINGTON - The International Monetary Fund (IMF) on Tuesday said its managing director plans to approve Chile's request for a $23.8 billion Flexible Credit Line (FCL).

    "IMF Managing Director Kristalina Georgieva intends to recommend approval of the FCL arrangement for Chile when the IMF Executive Board meets again to take a decision in the following weeks," the IMF said in a press release.

    The IMF executive board discussed Chile's request for "a two-year arrangement" under the FLC with the IMF during an informal session on Tuesday, the release said.

    "The Chilean authorities intend to treat the credit line as precautionary," it added.

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