IMF says ready to help Greece if asked to do so

Washington, (IANS) The International Monetary Fund (IMF) on Monday said it stands ready to assist Greece if required to do so.
IMF managing director Christine Lagarde made the statement following Greece’s referendum that rejected a proposal from international creditors that included pension cuts, tax increases and other austerity measures on Sunday, Xinhua reported.

“The IMF has taken note of yesterday’s referendum held in Greece,” Lagarde said in the statement. “We are monitoring the situation closely and stand ready to assist Greece if requested to do so.”

In May 2010, the IMF approved 30 billion euros in financial assistance for Greece under a stand-by arrangement, and then in March 2012, the lender approved 28 billion euros for Greece under an extended arrangement to support its economic reform programme.

To date, Greece has 21.2 billion euros in outstanding obligations to the IMF. A repayment of about 1.5 billion euros was due to the IMF on June 30. Greece did not make the repayment when due and is now in arrears to the Washington-based lender, which makes Greece the first advanced economy default on IMF debt.


Leave a Reply

Please enter your comment!

The opinions, views, and thoughts expressed by the readers and those providing comments are theirs alone and do not reflect the opinions of or any employee thereof. is not responsible for the accuracy of any of the information supplied by the readers. Responsibility for the content of comments belongs to the commenter alone.  

We request the readers to refrain from posting defamatory, inflammatory comments and not indulge in personal attacks. However, it is obligatory on the part of to provide the IP address and other details of senders of such comments to the concerned authorities upon their request.

Hence we request all our readers to help us to delete comments that do not follow these guidelines by informing us at Lets work together to keep the comments clean and worthful, thereby make a difference in the community.

Please enter your name here