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IMF likely to contribute up to €5bn to Greek bailout

Written by Business World, on 17th Feb 2017. Posted in EU

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The International Monetary Fund is likely to contribute up to 5 billion euros to the third bailout package for Greece, German magazine Der Spiegel said in an unsourced report published on Friday.

It said European lenders were now expecting a sum of this size after originally having hoped for 16 billion euros.

The Fund's involvement in the program has been uncertain. Earlier on Friday, a German Finance Ministry spokeswoman said Berlin considered it essential that the IMF participate.

The Spiegel report said the IMF now shared the view of European lenders that Greece should post a primary budget surplus of 3.5 percent of gross domestic product in order to get fresh aid. (Reuters)

Source: www.businessworld.ie

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