Colombia has secured a new loan from the International Monetary Fund (IMF), Bloomberg reports. The South American nation has received a new $6.2 billion credit line, which the government does not plan to draw on.

The two-year flexible credit line was increased from a previous $3.5 billion arrangement. The new loan is the third by the IMF for Colombia. The arrangement is a loan program that extends credit as a precaution, adds Reuters.

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