Sputnik: The International Monetary Fund (IMF) could give Greece the debt relief, according to IMF spokesperson Gerry Rice.
(Sputnik) — The International Monetary Fund (IMF) intends to approve in principle a new loan package for Greece because it is confident there is a good chance to reach a deal on the debt relief, IMF spokesperson Gerry Rice said in a briefing on Thursday.
On June 15, IMF head Christine Lagarde announced her intention to propose to the IMF’s Executive Board the approval in principle of a new loan package for Athens.
The spokesperson noted the IMF expects the issue to be brought to an early conclusion.
Greece, burdened with outstanding debt, has been experiencing a financial crisis since 2010. The country has received several bailout payments provided by the European Commission, European Central Bank and the IMF in exchange for implementing a number of austerity reforms. The loans, however, only resulted in the increase of Greece’s debt.
The second review of the third Greek bailout program worth about 86 billion euros ($97.3 billion) is currently underway.
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