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The IMF agreed to allocate € 1,6 billion to Greece

The IMF agreed to allocate € 1,6 billion to Greece

Tags: Greece, Economy, Credit, IMF

The Board of Directors of the International Monetary Fund (IMF) reached an agreement in principle on the allocation of Greece the next tranche of aid amounting to € 1,6 billion ($ 1,8 billion). This is stated in a statement issued on Thursday.

"The agreement that supports the program of economic settlement was reached" on a principled level. "This means that it will enter into force only after the fund receives from Greece's European partners guarantees that the debt [Athens] is economically acceptable and that the economic The program of Greece is being implemented, "the Foundation said in a statement.

"In order for the agreement to enter into force, the second decision of the Board of Directors should be adopted," the document says.

In June, IMF Managing Director Christine Lagarde called on the Board of Directors to approve the allocation of Greece next tranche. Lagarde then pointed to "significant progress on the part of the Greek government in carrying out political reforms." According to her, progress has also been recorded in terms of easing the country's debt burden.

In mid-June, the Eurogroup reached a preliminary agreement that will allow Greece to allocate another tranche of macro-financial assistance, which should be € 8,5 billion. The head of the European Stabilization Mechanism (ESM) Klaus Regling also said that Athens will receive "the first payment of € 7,7 billion on a new tranche of macrofinance Help in early July. "

The current third aid program for Greece is coming to an end in August this year, but the Eurogroup has already said that it will continue to assist Athens, as Greece can not independently return to the debt capital markets without concessional financing, debt restructuring or default.

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