Economy

xchrom

(108,903 posts)

35. Euro zone to assure IMF it will keep funding Greece - EU official

Sat Jan 25, 2014, 06:51 AM

Jan 2014

http://uk.reuters.com/article/2014/01/24/uk-eurozone-greece-idUKBREA0N1D020140124

(Reuters) - The euro zone will assure the International Monetary Fund in coming months that it will continue to bankroll Greece, enabling the IMF to disburse its share of international aid to Athens, a senior European Union official said on Friday.

Progress in Greek reforms, undertaken by Athens in return for international financial aid, will be among the topics for talks among euro zone finance ministers, called the Eurogroup, at a meeting on Monday.

Under IMF rules, the Fund cannot disburse its part of the loans to Greece unless it is financed 12 months ahead. But according to the IMF, Athens is 4.4 billion euros short in 2014 and 6.5 billion short in 2015.

For IMF money to flow to Greece, therefore, the euro zone will have to affirm that Athens will get more money.

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