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Chile Accepts IMF's Offer Of $3.5b Short-Term Liquidity Line

CHILE
  • The short-term liquidity line will be in effect for one year starting on May 20 and can be renewed, Chile’s central bank says in statement. It is worth noting this is about one seventh of the prior level, replacing its previous two-year flexible credit line of $23.4 billion.
    • It will reach amount of approximately $3.5 billion and it will complement bank’s external sources of liquidity.
  • Chile’s mining minister told La Tercera that she backs the state-owned copper company Codelco retaining and investing some of its profits, rather than raising more debt as it looks to maintain production levels.

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