Greek bailout funds approved but debt relief still contentious
IMF agrees “in principle” to new support for Greece, unlocking European funds
Greece has been granted access to fresh bailout funds after what proved a relatively smooth meeting of the Eurogroup on June 15, but parties still failed to agree on debt relief.
The International Monetary Fund agreed “in principle” to a new stand-by arrangement for Greece, contingent on debt relief measures. This allowed the European Stability Mechanism to approve €8.5 billion ($9.5 billion) in support to Greece, as European authorities had made such support conditional on IMF involvement.
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