Less than two months after taking office, Colombian President Abelardo de la Espriella confirmed that country authorities are negotiating financial assistance from the International Monetary Fund (IMF) to address Colombia’s fiscal deficit.

IMF Deputy Managing Director Nigel Clarke arrived in Colombia last weekend as part of the start of negotiations. 

During his four-day stay, he held talks with Vice President José Manuel Restrepo, Finance Minister Miguel Gómez, and Central Bank head Leonardo Villar.

In a statement published following his visit, Clarke said that “timely and credible action to reduce fiscal imbalances” in Colombia “can help strengthen confidence, lower borrowing costs, and create more favorable conditions for private investment and job creation.”

2/2 The IMF stands ready to support Colombia and looks forward to continuing our close and constructive dialogue in the weeks ahead. Please see my statement here: https://t.co/4djPq5aiCk pic.twitter.com/ys0V9yJgxh— Nigel Clarke (@NigelClarkeJa) September 29,........

© Buenos Aires Herald