01838cas a2200241 a 4500 AALejournalIMF017705 230101c9999 xx r poo 0 0eng d 5.00 USD 9781484303320 1934-7685 BD-DhAAL BD-DhAAL International Monetary Fund. Western Hemisphere Dept. Colombia : Review Under the Flexible Credit Line Arrangement-Press Release and Staff Report. Washington, D.C. : International Monetary Fund, 2017. 1 online resource (36 pages) IMF Staff Country Reports <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students This paper discusses Colombia's Review Under the Flexible Credit Line (FCL). Colombia continues to have very strong economic fundamentals and institutional policy frameworks. The policy adjustment to permanently lower oil prices was timely and decisive. Tight monetary policy helped anchor inflation expectations in the face of large but temporary inflation shocks. The exchange rate continued to float. Fiscal policy tightened as prescribed by the fiscal rule, while protecting social and infrastructure spending. A structural tax reform, including a 3 percentage-point increase in the value-added tax, became effective in January 2017. The IMF staff recommends the completion of the review under the FCL arrangement for Colombia. Mode of access: Internet IMF Staff Country Reports; Country Report ; No. 2017/149 Full text available on IMF http://elibrary.imf.org/view/journals/002/2017/149/002.2017.issue-149-en.xml IMF e-Library