LatinNews Regional Monitor: Andean Group - 24 April 2020

* Luis Alberto Moreno, the president of the Inter-American Development Bank (IDB), has confirmed that the organisation will provide over US$1bn in credit to support Colombia’s response to the coronavirus (Covid-19) pandemic, with the first phase of the loan to be approved within the next 30 days. The Colombian government has already reached emergency credit arrangements with the World Bank and the International Monetary Fund. Moreno attributed this success to the country’s investment grade credit rating and said there was a widespread recognition of the need to “increase indebtedness to alleviate the crisis”.

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