Will back Chile’s request for $23.8 billion flexible credit line, says IMF

The IMF’s executive board discussed Chile’s request during an informal session on Tuesday, and Managing Director Kristalina Georgieva would endorse the step when the board meets to take a formal decision in coming weeks.

The International Monetary Fund on Tuesday said its managing director would recommend approval of Chile’s request for a two-year, $23.8 billion flexible credit line, given the Latin American country’s “very strong fundamentals” and track record.

IMF MD said the organisation would recommend approval of Chile’s request for a two-year, $23.8 billion flexible credit line (Reuters file photo)

The IMF said its executive board discussed Chile’s request during an informal session on Tuesday, and Managing Director Kristalina Georgieva would endorse the step when the board meets to take a formal decision in coming weeks.

Chilean authorities intend to treat the credit line as precautionary, the Fund said in a statement released late on Tuesday.