IMF releases 2.2 bln euro in aid for Greece
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)
- Tweet this
- Share this
- Digg this
- India passes halfway mark in election with BJP gaining strength
- Search for Malaysia Airlines jet refocuses on drone scans of seafloor
- UPDATE 3-Putin talks tough on Ukraine but says he hopes for peace
- Acid attack survivor wins millions on 'Kaun Banega Crorepati'
- UPDATE 3-Salsa music great José "Cheo" Feliciano, 78, dies in car crash
Wipro posted a 29 percent rise in its fourth-quarter net profit, beating expectations, helped by increased IT spending by its customers. For the quarter ended March 31, the company said it earned 22.27 billion rupees compared with 17.29 billion rupees a year earlier. Full Article | Full Coverage
Ex-Goldman director Rajat Gupta to surrender June 17 in insider case. Full Article