Feb 18

The IMF could lend 13 billion euros to Greece

Tag: blog, business opportunity, facts, management, office — admin @ 12:55 pm

The International Monetary Fund is considering a loan of 13 billion euros to help new international bailout for Greece, according to the Wall Street Journal. IMF Executive Director Christine Lagarde during a press conference in Washington on 6 July 2011.

The International Monetary Fund plans to contribute a loan of 13 billion euros in the new international bailout for Greece, said Friday the Wall Street Journal on its website. "The size of the IMF's contribution has not yet been decided" but the institution currently looking for the money, the newspaper said, citing people familiar with the matter in an article written from Brussels.

The IMF granted in May 2010 a loan of 30 billion euros in Athens, as part of an international plan of 110 billion. It has not been enough to revive the Greek economy, which sank in a severe recession, exploding public debt. Finance ministers from the euro zone must meet in Brussels on Monday to consider whether the conditions exist to implement a second level of support in Athens, including a public component of EUR 130 billion and partial clearing of debt held by private creditors to the tune of 100 billion.

Greek Prime Minister Lucas Papademos, counterparts Angela Merkel and Italian Mario Monti, and French President Nicolas Sarkozy on Friday expressed their confidence in the possibility of reaching an agreement when, after several postponements. February 9, an IMF spokesman, Gerry Rice, stated that before you can obtain a new loan, he was "very likely" that Greece has to undertake "prior actions" to show its commitment to measures required of it to improve the functioning of its economy.