CHILE , Aug 29 (Media report) – The International Monetary Fund’s board has approved ‘a flexible credit line of around $18.5 billion for Chile.’ Reuters report that it will give ‘the world’s leading copper miner greater flexibility to confront risks from commodities price shocks to financial tightening.’
Chile is considered as one of the most stable democracies of Latin America but has been hit by a ‘depreciating currency’ and an ‘unexpectedly weak economy.’ Chilean authorities plan to treat the credit line as a “precautionary” measure as they would like to exit the arrangement when conditions improve.
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