Elevate your local knowledge

Sign up for the iNFOnews newsletter today!

Select Region

Selecting your primary region ensures you get the stories that matter to you first.

IMF approves ? 3.24 billion loan installment for Greece following review

WASHINGTON – The International Monetary Fund has approved a € 3.24 billion ($4.3 billion) loan installment to Greece, following an economic review.

The decision by the IMF’s board Wednesday followed the Greek parliament’s approval this week of an emergency bill ratifying dozens of conditions set by bailout lenders.

Greece’s economy is being kept afloat by international rescue loans from other eurozone members and the IMF. The loans were granted on condition that the country impose spending cuts and other austerity measures. As Greece has imposed the measures, unemployment and poverty rates have shot up.

Last month, European rescue lenders approved new installments worth €49.1 billion ($65.5 billion), with €34.3 billion ($45.76 billion) paid out days later and the rest to be transferred to Greece by March.

News from © The Associated Press, . All rights reserved.
This material may not be published, broadcast, rewritten or redistributed.

Join the Conversation!

Want to share your thoughts, add context, or connect with others in your community?

Create a free account

The Associated Press

Desmond Butler

The Associated Press is an independent global news organization dedicated to factual reporting. Founded in 1846, AP today remains the most trusted source of fast, accurate, unbiased news in all formats and the essential provider of the technology and services vital to the news business. More than half the world’s population sees AP journalism every day.

Related Articles