Summary: Colombia has maintained a robust economic performance in recent years due in large part to its very strong policy framework. Well-anchored inflationary expectations, a flexible exchange rate, a structural fiscal balance rule, and effective financial supervision and regulation have contributed to the resilience of the Colombian economy to global uncertainty. The Flexible Credit Line (FCL) arrangement has also allowed Colombia to restore orderly financial market conditions despite increased volatility in financial markets over the past year by providing a buffer against tail risks.

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