The IMF and the Colombian Government "have reachedunderstandings on all the key elements and policies that wouldsupport Colombia's Economic Programme for 2000-2002," the IMFstatement said."IMF management believes that Colombia's programme wouldhelp the country return to the path of sustainable Economicgrowth while continuing to make progress on reducingInflation, Restoring balance in its External accounts, andstrengthening the social safety net," the IMF said.It said that some "technical work" remained to be done,but after that Colombia extended fund facility (EFF) wouldbe presented to the imf board.Colombia has drawn up a 7.5 billion Dollar plan to tackleLeftist rebels, Drugs and a sagging economy and was seekingmore funds to help its Economic recovery programme.Colombia's economy has been hit with its worst recessionin 70 years with unemployment near 20 per cent.And on Tuesday standard and poor's rating agencydowngraded Colombia's long-term Foreign Currency SovereignCredit Rating from bb+ to bbb-, citing the country's longconflict against insurgents.