IMF says will support Greece in overcoming economic woes

WASHINGTON Mon Jul 23, 2012 8:49pm IST

Related Topics

WASHINGTON (Reuters) - The International Monetary Fund on Monday dismissed a weekend news report that it may refuse to continue supporting Greece as it prepares for talks with the new Greek government on its international bailout.

The German weekly Der Spiegel reported at the weekend that Greece would need up to 50 billion euros in additional aid beyond the 130 billion euros already agreed and the IMF may refuse to contribute further funding.

"The IMF is supporting Greece in overcoming its economic difficulties," an IMF spokesperson said in response to the Der Spiegel report.

"An IMF mission will start discussions with the country's authorities on July 24 on how to bring Greece's economic program, which is supported by IMF financial assistance, back on track."

The IMF is part of a "troika" of international lenders, including the European Commission and European Central Bank, which will meet with the new Greek government of Prime Minister Antonis Samaras to review a 130 billion euro rescue program pushed off track by elections.

Samaras has vowed to renegotiate the bailout while staying in the euro zone.

The IMF has signaled it is open to discussing new targets under the economic program but may be willing to review new timelines given delays caused by political developments in Greece.

(Reporting by Lesley Wroughton and Jason Lange; Editing by Chizu Nomiyama)

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

Shares Hit Record

Sensex, Nifty rise to second consecutive record high

Sensex surges 500 points on BOJ easing, L&T gains

The BSE Sensex and Nifty surged to record highs for a second consecutive session on Friday after Bank of Japan's surprise expansion of its massive stimulus programme raised hopes for additional foreign inflows, boosting blue-chips such as Larsen & Toubro.  Full Article 

REUTERS SHOWCASE

Indian Economy

Indian Economy

India's fiscal deficit in H1 almost 83 pct of full-year target.  Full Article 

M&M Earnings

M&M Earnings

M&M Q2 net profit down 4 percent, hit by poor monsoon.  Full Article 

Ban on E-Cigs?

Ban on E-Cigs?

Govt considers ban on e-cigarettes, sale of single smokes.  Full Article 

Commodities

Commodities

Silver futures in India hit four-year low on global cues.  Full Article 

BOJ Policy

BOJ Policy

BOJ shocks markets with surprise easing as inflation slows.  Full Article 

Shadow Banking

Shadow Banking

China's shadow banking sector growing rapidly, third largest in world - FSB.  Full Article 

Reuters India Mobile

Reuters India Mobile

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