WASHINGTON – The International Monetary Fund (IMF) ha said its managing director plans to approve Chile’s request for a 23.8 billion U.S. dollars Flexible Credit Line (FCL).

“IMF Managing Director Kristalina Georgieva intends to recommend approval of the FCL arrangement for Chile when the IMF Executive Board meets again to take a decision in the following weeks,” the IMF said in a press release on Tuesday.

The IMF executive board discussed Chile’s request for “a two-year arrangement” under the FLC with the IMF during an informal session on Tuesday, the release said.

“The Chilean authorities intend to treat the credit line as precautionary,” it added.

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