Greece: IMF OKs disbursement of 3.41 bln euro loan tranche

02 June, 10:20

    (ANSAmed) - ATHENS, JUNE 2 - The International Monetary Fund (IMF) Executive Board on Friday approved the disbursement of 3.41 billion euros to Greece, as part of the country's bailout program as Ana-Mpa reported. The amount is part of a joint package of financing with Eurozone member-states totaling around 173 billion over four years. The new tranche will bring the total IMF disbursements to date to about 11.5 billion euros.

    During their meeting to complete the fifth review of Greece's performance, drafted by IMF mission chief in Greece Poul Thomsen. Following the meeting, IMF Deputy Managing Director Naoyuki Shinohara said that Greece had "made significant progress in consolidating the fiscal position and rebalancing the economy." The IMF official said that additional fiscal adjustment was necessary to ensure debt sustainability and said that authorities had to "continue to improve tax collection, combat evasion, and strengthen expenditure control. Public administration reforms need to be accelerated." (ANSAmed).

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