Tag: $1.8 billion

IMF approves $1.8 billion loan for Greece ‘in principle,’ no funds released

WASHINGTON, United States (AFP) — The International Monetary Fund late Thursday approved a new, $1.8 billion loan program for Greece but will not release any funds immediately, in a highly unusual compromise step. The IMF last month announced it would revive the seldom-used option of approving a loan “in principle,” in order to convince eurozone finance ministers to release desperately-needed new funds to Greece. The latest 8.5 billion euro disbursement from the eurozone loan program […]