29 Jul 2013
Greece receives additional rescue funds
FXstreet.com (Barcelona) - The International Monetary Fund's board has approved yet another disbursement to Greece, this time amounting a further 1.7 billion euros in funds in order to keep the artificially-supported economy afloat.
Greece last week passed another controversial bill cutting down on public workforce, reducing further its public worker's salary, and other harsh measures required by international lenders to make the funds available into the Greek sinkhole. The latest payment comes under an approved 5.8 billion euros bailout tranche, to be paid by the IMF, the EC and the ECB.
From Reuters: "Subject to implementation of further reforms, Athens stands to receive another 1 billion euros from international lenders in October. Greece's rescue, approved in March 2012, will total 173 billion euros over four years, the IMF said."
Greece last week passed another controversial bill cutting down on public workforce, reducing further its public worker's salary, and other harsh measures required by international lenders to make the funds available into the Greek sinkhole. The latest payment comes under an approved 5.8 billion euros bailout tranche, to be paid by the IMF, the EC and the ECB.
From Reuters: "Subject to implementation of further reforms, Athens stands to receive another 1 billion euros from international lenders in October. Greece's rescue, approved in March 2012, will total 173 billion euros over four years, the IMF said."