Bolivia’s newly approved $1.9 billion IMF program highlights a key distinction in Latin American financing: Argentina has received funds, while Chile held a credit line it had not tapped by Sept. 30.
The IMF Executive Board approved Bolivia’s 36-month arrangement Oct. 2, making about $214 million available immediately. Further payments depend on program reviews. Bolivia plans to remove its remaining fuel subsidies and direct more social assistance to vulnerable households.
Chile renewed a roughly $11.8 billion, two-year IMF Flexible Credit Line on Aug. 26. The fund’s lending record showed no money drawn as of Sept. 30. Chile has maintained an IMF credit line since 2020.
Argentina’s 48-month, $20 billion IMF arrangement began in April 2025 with an immediate $12 billion disbursement. By May 21, 2026, the fund said it had disbursed about $15.8 billion under the program.
In a separate move June 16, the World Bank and Multilateral Investment Guarantee Agency boards approved guarantees intended to mobilize up to $2 billion in commercial loans for Argentina. The guarantees cover 95% of required payments on the supported loan; the World Bank Group expects that backing to lower borrowing costs. The $2 billion figure represents potential commercial borrowing.
Colombia is at an earlier stage. After a Sept. 25-28 visit, IMF Deputy Managing Director Nigel Clarke said President Abelardo de la Espriella had requested deeper engagement. The IMF’s Sept. 28 statement announced no new program or loan amount. Colombia canceled its previous Flexible Credit Line effective Oct. 1, 2025.
The World Bank Group resumed dealings with Venezuela in April after a pause that began in 2019. A May visit included discussions of possible technical collaboration, but the group announced no new loan. Its last loan to Venezuela was in 2005.
IMF Western Hemisphere Department Director Nigel Chalk said at an Oct. 16 briefing that public debt was continuing to rise across the Western Hemisphere. Bolivia’s later IMF payments remain subject to program reviews.
