IMF readies €28bn in support of Greece

christine-lagarde

The International Monetary Fund (IMF) plans to contribute €28 billion ($36.7 billion) to support the latest debt restructuring and aid package to Greece. The move follows agreement on March 9 by Greece's private sector bondholders to accept a near 75% write-down on the value of their Greek sovereign debt.

IMF managing director Christine Lagarde said on March 9 she plans to seek formal approval this week from the Fund's executive board regarding the use of the IMF's Extended Fund Facility to

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