IMF approves nearly US$24b flexible credit line for Chile

The approval had been expected since IMF Managing Director Kristalina Georgieva backed the plan earlier this month due to Chile's "very strong fundamentals" and track record

WASHINGTON: The International Monetary Fund said late on Friday its executive board approved a $23.9 billion flexible credit line to bolster the commodity exporter's finances as it a battles the coronavirus pandemic and deals with a severe drop in demand.

The approval had been expected since IMF Managing Director Kristalina Georgieva backed the plan earlier this month due to Chile's "very strong fundamentals" and track record