June 1, 2022 |
The International Monetary Fund (IMF) said it approved Peru's request for a $5.4 billion flexible credit line, replacing a larger agreement signed two years ago at the outset of the COVID-19 pandemic.
The smaller, two-year credit line "reflects better economic and external reserve positions and demonstrates the authorities' strategy of gradually exiting the facility," the IMF said in a statement.
Peru has built additional buffers through the accumulation of foreign currency reserves and has redu
US-based multilateral lender approves $5.4 bln in financing, half the size of a similar arrangement at the start of the COVID-19 pandemic