News Brief: IMF and Colombia Reach Understandings on Economic Program
September 24, 1999
Management of the International Monetary Fund (IMF) and the Government of Colombia have reached understandings on all the key elements and policies that would support Colombia's economic program for 2000-2002. After concluding some technical work that remains, and the normal process required to finalize the documentation, Colombia's proposed extended fund facility (EFF) program will be presented to the IMF's Executive Board for consideration.
IMF management believes that Colombia's program would help the country return to the path of sustainable economic growth while continuing to make progress on reducing inflation, restoring balance in its external accounts, and strengthening the social safety net.