IMF approves 3.2 billion euro aid for Greece

 

The International Monetary Fund (IMF) announced on Friday to release the next tranche of € 3.2 billion for aid to Greece. This was decided by the Board of Directors, said the IMF in Washington. 

Athens go on "some progress" and was recorded in the first half of next year, again an increase in economic growth, it said.

Improved competitiveness

IMF chief Christine Lagarde lifted although it is clear that the Greek deficit reduction and a gradual improvement in competitiveness. "In view of important structural reforms that have yet to be carried out, there are still significant challenges," she warned, however.

Overall, Greece this month of the euro will help States and the IMF over twelve billion euros. The euro finance ministers agreed last weekend to 15 July pay their share of the next installment from the joint aid package.

Greece-second rescue package needed

Greece urgently needs the next installment debt, because otherwise it would be insolvent in mid-July. The money is part of an aid package adopted last May of 110 billion €. The Greek Parliament had agreed to savings of around 28 billion euros and the sale of state property of 50 billion €. This was the precondition for the disbursement of the next installment. In the long term, however, a second aid package is necessary. APA

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