IMF approves €28 billion for Greece

The IMF approved a €28 billion loan for Greece as part of a second bailout with the euro area that requires more austerity and steps up controls over the country’s spending.

15th March, 2012
IMF approves €28 billion for Greece
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The International Monetary Fund approved a €28 billion loan for Greece as part of a second bailout with the euro area that requires more austerity and steps up controls over the country’s spending.

The Washington-based IMF said €1.65 billion will be immediately available under the new arrangement. The four-year loan announced today follows an earlier program that was cancelled, leaving €9.7 billion that was never disbursed.

Greece completed the world’s largest-ever sovereign-debt restructuring...

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