By

The credit line replaces the pre-existing similar arrangement and Colombia will continue to see the funds as precautionary.

Rightwing candidate Iván Duque, the protege of former President Álvaro Uribe, was the frontrunner in the last major poll before the election.

“We are now part of the big leagues," said Colombian President Juane Manuel Santos.

Among South American nations, only Chile (up 24.3%), Bolivia (21.9%), and Uruguay (16.1%) outperformed Colombia this quarter.

Colombia’s Commerce Minister María Lorena Gutiérrez said last week that the issuance could be later be extended by another $35 million USD.

Bogotá will be the first city in Colombia to receive an Ikea store, but that inauguration will come after an opening in Santiago that is scheduled for 2020.

Following an initial eight-month term, the credit facility is expected to be extended to two years “upon satisfaction of certain extension conditions."

The failure of a massive, under-construction hydroelectric dam in Colombia has forced thousands of people to evacuate their homes.

“ISA's credit metrics reflect solid cash flow generation, moderate debt levels and adequate liquidity,” stated Fitch.

The decision "constitutes a reaffirmation of a policy in line with improving quality of life of our population," said Bancóldex head Mario Suárez.