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Emerging MarketsEM LatAm

Colombia becomes first to draw IMF FCL, could shun bonds

10 mil pesos, peso colombiano, colombia, currency, LatAm

Colombia will become the first country to draw down on an International Monetary Fund flexible credit line (FCL), its instrument for top quality borrowers. The government is likely to use the loan — rather than bond markets — to complete its external funding needs.

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