June 17, 2011
The International Monetary Fund is preparing to pump more money into Greece’s stricken economy in an attempt to calm turmoil on the financial markets.
The IMF said it stood “ready to continue its support” for the country providing the government introduced far-reaching economic reforms. It was threatening to withhold support for Greece, which was due to be paid next month, but this is now thought unlikely.
A new bail-out package, the second in 13 months, is expected to be agreed over the next few weeks.
The European Union’s top economic official, Olli Rehn, said he expected the EU and the IMF to release a €12 billion loan in early July to keep Greece solvent.
This article was posted: Friday, June 17, 2011 at 3:24 am