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Central Bank Joins Latin American Reserve Fund

CHILE

The assembly of the Latin America Reserve Fund approved the incorporation of the Central Bank of Chile, according to a statement from the bank earlier today.

  • BCCh looks to strengthen the nations’s international liquidity position and gain access to lines in foreign currency if situations of financial stress were to arise.
  • With the upcoming termination of the Flexible Credit Line with the IMF in May, the action is also pre-emptive from the BCCh.
  • Bolivia, Colombia, Costa Rica, Ecuador, Paraguay, Peru, Uruguay and Venezuela participate in FLAR which supports the balance of payments of the member countries. (BBG)

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