• Colombia’s central bank announced it would buy $1.5 billion from the government for its international reserves;
• Colombia will use the resource to help mitigate the COVID-19 impact.

Colombia has drawn $5.4 billion from its flexible credit line with the International Monetary Fund, the body said on Thursday, which the country will use to help mitigate the impact of the coronavirus pandemic.

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“The authorities will use the drawing to help meet higher financing needs whilst maintaining strong external buffers in a context of heightened global uncertainty,” the IMF said in a statement.

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Meanwhile, the country’s central bank announced it would buy $1.5 billion from the government for its international reserves.