Free Trial

IMF Renews FCL Arrangement, Lower House Committee Rejects Pension Bill

CHILE
  • The IMF executive board has approved a successor two-year credit line of about $13.8bn with Chile, marking the third flexible credit line arrangement since 2020. In a statement, the BCCh said that the renewal of the FCL is an adequate insurance for possible risks in a complex global environment.
  • In other news, the constitution committee of the lower house has rejected a bill allowing a new round of pension fund withdrawals, with four members voting in favour and nine against. Despite this, the bill will still head to the lower house for a vote, before progressing to the Senate, if approved.
  • On the data front, the calendar is empty today, with focus over the rest of this week on tomorrow’s BCCh traders survey and unemployment figures, followed by activity data for July on Friday. The traders survey comes ahead of next week’s MPC meeting, when the central bank is expected to deliver another interest rate cut.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.