Imf, International Monetary Fund | featured news

The International Monetary Fund on Sunday approved a 30 billion euro ($38.6 billion) loan for Greece as part of a larger European Union-led effort to help ease the country's economic crisis.

The $147 billion, three-year bailout offered to Greece by euro-zone countries and the IMF won't be enough to cover Greece's costs, an examination of Greek financial figures shows.

Greece reached agreement with the European Union and the International Monetary Fund on rescue loans to keep Athens from defaulting on its debts, a deal that will impose harsh cuts on the county's 11 million people for years.

The International Monetary Fund on Thursday declared that a global economic recovery has begun led by Asia, also cautioning that the strength of the rebound depended on a rebalancing of global growth.