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IMF Plans 3.5 Billion Euro Greek Bailout

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Later this month, the International Monetary Fund plans to grant approximately 3.5 billion euros to Greece in bailout funds, as confirmed by IMF Spokesman Gerry Rice today.

The agency's executive board is scheduled to meet May 30th to discuss details of the expenditure.  As mandated by the original timetable, the lending institution planned to offer 1.7 billion euros last May. However, negotiations experienced gridlock, due to the nation not meeting the program's mandates in a timely manner.

The IMF will review Hellenic accounts again in July. IMF Spokesman Gerry Rice commented, "It's our job to draw up various economic scenarios so that we can provide better advice to our member countries". He added, "We look at risks. That's part of our job.", as reported by Kathimerini.