Economy & Business - May 2022

COLOMBIA | IMF unconcerned by candidates. The International Monetary Fund (IMF) released a statement on 3 May outlining its confidence in Colombia’s economic trajectory, following the lender’s approval on 29 April of a new, two-year flexible credit line (FLC) worth US$9.8bn. The statement notes how “Colombia’s very strong policy frameworks and comprehensive policy response to the pandemic have supported the economy’s resilience,” resulting in better-than-expected growth in 2021 and declines in the fiscal deficit and public debt. The IMF also expressed confidence that candidates in the upcoming first round of the presidential election on 29 May did not pose a risk to economic stability. “Political assurances on policy continuity from the leading candidates provide a necessary safeguard for the proposed agreement,” the statement read.

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