Colombia seeking large IMF loan, but no decision expected in coming weeks, sources say
Executive Brief • Key Highlights
Fast factual intelligence distilled for busy investors, executives, and answer bots:
- ✓Colombia is seeking a large lending arrangement with the International Monetary Fund, but no decision is expected in coming weeks.
- ✓Sources said discussions are ongoing, though no agreement is in sight.
- ✓The country faces a high fiscal deficit, and officials noted that Colombia urgently needed to start fiscal consolidation.
Story at a Glance
- Category
- Indian Markets
- Reported By
- Reuters
- Reading Speed
- 2 Minute(s)
- Market Focus
- India Economy
Nov 9 (Reuters) - Colombia is seeking a large lending arrangement with the International Monetary Fund, but no decision is expected in coming weeks, sources familiar with the talks said on Monday.
Bloomberg reported earlier that the Andean country was negotiating for a $15 billion stand-by arrangement with the IMF.
Sign up here.
The IMF had no immediate comment on the report.
One of the sources reached by Reuters said the amount could be somewhat lower than $15 billion, adding that no decision had been made. A second source said the discussions were ongoing, with no immediate agreement in sight.
Reuters reported early last month that Colombia could seek between $8 billion and $20 billion in assistance.
Unlock the Full Story with ArthNow Premium
To continue reading this complete financial story and in-depth market context, upgrade to ArthNow Premium. Enjoy unlimited access across Web and Mobile.
Reuters
Read the full, original unfiltered story directly on the publisher's portal.
This brief is for information only and is not investment advice. ArthNow is not a SEBI-registered investment adviser and does not publish buy or sell recommendations. Original reporting is credited to the publisher named above. Read our editorial policy or report an error.