Chile government has asked the International Monetary Fund (IMF) for a flexible range of loans of approximately $23.8 billion over two years, IMF stated in a statement.
IMF MD Kristalina Georgieva plans to recommend endorsement of the request due to Chile’s “very strong economic fundamentals, institutional policy frameworks, and track record,” it stated.
A mass demonstration against Chilean President Sebastian Pinera and his government exploded last year but has lately been tempered by the COVID-19 pandemic.
Chile last week established strict new quarantine rules on three districts in the capital Santiago after a sudden spike in coronavirus cases.
Curfews and quarantines needed as part of measures against the pandemic have extensively calmed months of demonstrations initially triggered by a modest rise in metro fares in Santiago.
