Chile renews IMF flexible credit line as risks grow

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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