IMF approves programme "in principle," repeats position on debt and reforms

EconomyProgramme Tags: Debt, IMF, Labour, Reforms
Photo by World Bank via Flickr
Photo by World Bank via Flickr

In the early hours of Friday morning in Greece, the International Monetary Fund’s executive board approved “in principle” at a meeting in Washington a precautionary Stand-By-Arrangement (SBA) for Greece of approximately 1.6 billion euros.

The decision will become effective after the Fund will receive credible assurances from Greece’s eurozone partners that will ensure the country’s debt sustainability and Greece continues the uninterrupted programme implementation.

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