Weekly Report - 23 April 2009 (WR-09-16)

COLOMBIA | IMF support. Colombia this week requested the extension of a US$10.4bn flexible credit line from the IMF as a precautionary measure. Industrial production fell 12.8% in February, following a contraction of 10.7% in January, and sales were down 10.4%, according to the national statistics department (Dane). Foreign direct investment in the first quarter came to US$1.76bn, a 22% fall on the same period a year earlier. FDI was up 12.5%, however, in March. FDI amounted to a record US$10.56bn, the equivalent of 4.4% of GDP, in 2008.

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