WASHINGTON — The International Monetary Fund has put up nearly $40 billion to help bail out Greece and appease investors' fears of a spreading European debt crisis. The IMF's executive board met in Washington Sunday to approve a three-year, euro30 billion loan for the debt-plagued nation, part of a $140 billion package (euro110 billion) negotiated with other eurozone countries. With hundreds of billions in debts and a budget deficit of 13.6 percent of gross domestic product, Greece was just weeks away from default when eurozone finance ministers agreed to activate a rescue.
Imf Approves Greece Loan: Nearly $40 Billion Bailout
The Huffington Post News Editors, Huffington Post
Sun, 05/09/2010 - 6:14pm
Topics: the international monetary fund the imf washington the greek imf managing director dominique strauss-kahn today john lipsky earlier spain rushing asian eu commission president barack obama german chancellor angela merkel french nicolas sarkozy european union white house robert gibbs washington greece eu european imf greek eurozone lipsky loan billion bailout markets sunday ministers crisis debt global package action government countries defense private fears stabilize strong investors give plan leaders economy funds due nations week recovery measures
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