Saturday, July 12, 2014





IMF approves $4.3 billion loan for Greece


March 17. 2013 2:57AM
Story Tools
PrintPrint | E-MailEMail | SaveSave | Hear Generate QR Code QR
Send to Kindle


(AP) The International Monetary Fund on Wednesday approved a $4.3 billion loan installment to Greece, following an economic review.


The decision by the IMF's board was expected following the Greek parliament's approval this week of an emergency bill ratifying dozens of conditions set by bailout lenders. Greece also completed a loan buyback last month that reduced its debt by more than $27 billion.


Greece's economy is being kept afloat by international rescue loans from other eurozone members and the IMF. The loans were granted on condition that the country impose spending cuts and other austerity measures. As Greece has imposed the measures, unemployment and poverty rates have shot up.


But last month, the country's crisis eased after European rescue lenders approved new installments worth $65.5 billion, with $45.76 billion paid out days later and the rest to be transferred to Greece by March.


___


Follow Desmond Butler on Twitter at http://twitter.com/desmondbutler


Associated Press


Comments
comments powered by Disqus Commenting Guidelines
Poll
Mortgage Minute


Search for New & Used Cars

Make 
Model
 
Used New All
 

Search Times Leader Classifieds to find just the home you want!

Search Times Leader Classifieds to find just what you need!

Search Pet Classifieds
Dogs Cats Other Animals



Social Media/RSS
Times Leader on Twitter
Times Leader on Youtube
Times Leader on Google+
The Times Leader on Tumblr
The Times Leader on Pinterest
Times Leader RSS Feeds