May 2, 2010IMF expresses support for Greece's economic moves
WASHINGTON, The International Monetary Fund says its executive board will consider approving Greece's request for about $40 billion in loans within the coming week.
The IMF's managing director, Dominique Strauss-Kahn, says the Greek government has come up with an ambitious program to address its economic crisis.
The IMF loans are part of a larger package with European countries to help keep debt-plagued Greece from defaulting and spreading its financial woes.
and ...
WASHINGTON: The International Monetary Fund
said on Sunday financial aid for Greece, which will be released out of Brussels later, will be "big and unprecedented" but gave no further details.
IMF chief negotiator, Poul Thomsen, briefed reporters on Sunday after Greece agreed with the European Union and the IMF on a massive financial bailout for the debt-stricken country. In exchange for a bailout of up to 120 billion euros ($160 billion), the largest assembled for any country, Athens announced spending cuts and tax increases totaling $30 billion euros ($40 billion) on top of austerity measures already announced.
An IMF official said that initial results of stress tests indicated that Greek banks may need additional capital to be able to keep operating normally.
