IMF releases 2.2 bln euro in aid for Greece

WASHINGTON Tue Dec 6, 2011 1:19am IST

A bank clerk takes a pack of 10 Euro notes valuing 10,000 Euros (14,225 dollars) from a safe in a bank in Vienna July 21, 2009. REUTERS/Heinz-Peter Bader/Files

A bank clerk takes a pack of 10 Euro notes valuing 10,000 Euros (14,225 dollars) from a safe in a bank in Vienna July 21, 2009.

Credit: Reuters/Heinz-Peter Bader/Files

Related Topics

WASHINGTON (Reuters) - The International Monetary Fund on Monday agreed to release a 2.2 billion euro aid disbursement to Greece, part of a three-year IMF-EU bailout package to help the debt-stricken country avoid bankruptcy.

"The executive board of the International Monetary Fund today completed the fifth review of Greece's economic performance under a program supported by a three-year Stand-By Arrangement for Greece," the IMF said in a brief statement.

The disbursement brings to 20.3 billion the sum paid out to Greece so far under the 30 billion euro IMF loan agreed in May last year. It is part of a bigger 110 billion euro rescue package for the country.

The approval of the latest aid tranche followed assurances by Prime Minister Lucas Papademos and his new unity government that the country would stick to terms of a debt reduction deal.

Last week, European leaders approved an 8 billion euro tranche for Greece.

An IMF mission will travel to Athens between December 12 and December 16 for preliminary discussions with the new coalition on economic policies. (Reporting by Lesley Wroughton; Editing by Kenneth Barry)

FILED UNDER:
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.

  • Most Popular
  • Most Shared

Popularity Poll

REUTERS SHOWCASE

Record Highs

Record Highs

Nifty touches record high; software stocks gain.  Full Article 

New Adviser

New Adviser

Arvind Subramanian likely to be chief econ adviser.  Full Article 

Pricing Mechanism

Pricing Mechanism

Govt sets up a four-member panel to re-examine gas pricing.  Full Article 

Royalty Rates

Royalty Rates

India to hike iron ore royalty, miners may struggle to pass on extra cost.  Full Article 

Diesel Deregulation

Diesel Deregulation

Oil ministry to seek Cabinet nod on diesel deregulation - sources  Full Article 

Commodities

Commodities

Gold near two-month low; set for weekly drop on interest rate fears  Full Article 

Reuters Exclusive

Reuters Exclusive

Apple iPhone 6 screen snag leaves supply chain scrambling   Full Article 

Helping Regional Mills

Helping Regional Mills

Govt raises sugar import duty to 25 pct from 15 pct.  Full Article 

Curbing Risks

Curbing Risks

RBI to lower ceiling on bank loans to a single corporate group.  Full Article 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device.  Full Coverage