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IMF waves through €3.2bn in aid for debt-stricken Greece
THE INTERNATIONAL Monetary Fund (IMF) has agreed to unfreeze the next tranche of bailout aid to the Greek government, the global lender announced last night.
The €3.24bn (£2.69bn) instalment of cash had been frozen as the IMF mulled over two reviews of Greece’s economic performance, including judgements over the government’s reforms and promises of further reforms.
Under the IMF’s Extended Fund Facility, it has now pledged a total of €4.86bn to help Greece escape its mammoth debt crisis.
Greece avoided financial collapse last month after its European backers agreed to dole out more financial support and the IMF said it would continue to back the Greek government as long as it implemented promises under a joint IMF-EU financing package.