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IMF approves $2.3 billion aid for Greece

International Monetary Fund (IMF) on Monday approved a further 170 million euros (about $ 23 billion) of funds to complete the Greek rescue plan, the cash-strapped euro-zone countries for the fourth review.
Greece last week passed legislation calling for the release of its international lenders next batch of bailout loans, after two months of struggle unpopular measures to reform the economy of the last one. From the International Monetary Fund (IMF), the European Commission and the European Central Bank's capital include 5.8 one billion euros.
International Monetary Fund (IMF) also confirmed how much money it takes to get from the privatization of state enterprises, Athens, after struggling to sell gas distributor DEPA 6 months, the lender will modify Greece September goals.
Earlier Monday, the EU announced the move, he said that Greece needs to do now privatized only 1.6 billion euros, down 2.6 one billion euros. But Athens must now recover the money in 2014 to ensure that it stays in course to reduce its debt.
"Should take urgent steps need to focus on the structure and governance of the privatization program in order to improve their efficiency," IMF president Christine Lagarde said in a statement Monday.
Since its start in mid-2010 EU / International Monetary Fund (IMF) bailout, leading to frequent delays in issuing bailout funds, Greece reform record has been patchy.
Also strengthened against the bailout for Greece through rate of 27 percent to a record sixth year of economic recession and unemployment hovering.
IMF's board of directors gave up several requirements must be met by the end of June, Greece, because the data has not been announced. This includes the goal of overall government debt, the government and general government domestic arrears balance.
Lagarde praised Greece budget cuts and external imbalances, but he said, Athens has not done enough for broader reform, tax administration and the public sector, it is necessary to ensure that its resumption of economic growth.
"Given the slow progress in public administration reform, the focus should be on ensuring unqualified personnel out to create space, hiring new employees relevant skills," Lagarde said.
Further reforms to be implemented, Athens received another 100 million euros on behalf of October from international lenders. Greece's rescue, in March 2012 approved will total 173 one billion euros in four years, International Monetary Fund (IMF) said. It is intended to help the sovereign debt crisis from Athens to recover and return to the market, to protect from a possible exit from the euro countries.
 



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