Tags: US | IMF | Greek | Loan

IMF to Meet Sunday to Approve $40 Billion Greek Loan

Tuesday, 04 May 2010 03:45 PM

The International Monetary Fund plans to meet Sunday to approve a $40 billion loan to Greece as part of a rescue package to save the country from looming bankruptcy.

The bailout includes a $105 billion loan from the 15 other European Union members who use the euro as their currency.

An IMF spokesman said Tuesday its decision-making board would convene on Sunday to act on Greece's request for a loan.

Greece has debts of $380 billion and a budget deficit of 13.6 percent of gross domestic product. It has been struggling to pull its finances in order and was less than three weeks away from default when the euro zone finance ministers agreed last Sunday to activate the three-year $145 billion euro zone and IMF rescue.

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The International Monetary Fund plans to meet Sunday to approve a $40 billion loan to Greece as part of a rescue package to save the country from looming bankruptcy.The bailout includes a $105 billion loan from the 15 other European Union members who use the euro as their...
US,IMF,Greek,Loan
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2010-45-04
Tuesday, 04 May 2010 03:45 PM
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