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IMF Approves its Greek Bailout Contribution

The International Monetary Fund says it has approved €28 billion in funding for crisis-hit Greece over the next four years.
An IMF statement says the executive board’s decision Thursday allows for immediate release of €1.65 billion of these funds as part of the country’s second bailout.
Greece will receive a total €172.7 billion in rescue loans from its eurozone partners and the IMF to keep it afloat in the next few years, as dizzily high borrowing rates have blocked its ability to raise money on the international bond markets.
(source: AP)

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