The
International Monetary Fund (IMF) on Tuesday affirmed that Peru is taking important measures to protect life and livelihoods of its people during the coronavirus pandemic.
The IMF recognized Peru's very strong economic fundamentals and institutional policy frameworks by approving its request for a Flexible Credit Line.
In addition to Peru, Chile now has access to the FCL. The size of access for such South American nation is US$23.8 billion.
The FCL will help these countries strengthen their financial resilience while responding to the pandemic.
Thus, Peru and Chile have joined Colombia and Mexico as recipients of the IMF's FCL.
Together these four countries have access to about US$107 billion through the FCL.
About FCL
The IMF's Flexible Credit Line (FCL) is available to countries with a strong economic track record and policy frameworks.
The credit line provides insurance to countries against external shocks and sends a strong signal of support from the global community.
It helps boost confidence and financial resilience, especially during a period of heightened risks.
Qualified countries can access the approved amount at any time within two years.
This credit line carries no standard conditions.
Published: 6/9/2020