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Europe Live Sunday 19th May 2013

The IMF approves a new aid plan to Greece

19th March 2012

In addition to the new European public aid plan (130 billion euros) and the operation to restructure the debt held by the private sector, the IMF approved a new aid programme of 28 billion euros for Greece on 15th March. This new credit facility is now planned over four years. The IMF board indeed adopted a reform extending the maximum length of the loans that it is paying to the country by three to four years. Athens can therefore receive 1.65 billion euros immediately; the rest will be released in successive instalments.

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