Chile has renewed its flexible credit line (FCL) with the International Monetary Fund, just three months after dropping the facility in favour of the smaller short-term liquidity line (SLL).
The IMF executive board approved the new FCL for Chile on August 29. Worth $18.5 billion, it provides substantially more support than the SLL, which was capped at $3.5 billion. The FCL agreement lasts for a term of two years, while the SLL was for just one year.
Chile has not used either facility and
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