ECONOMY

IMF gives nod to further funding

The International Monetary Fund has welcomed the Greek parliament’s passage of a tough austerity plan designed to shore up its finances and avert a debt default that could shake the euro zone, Agence France-Presse reported Friday.

IMF spokeswoman Caroline Atkinson said the move would «pave the way» for the release of more funds to Athens from the 110-billion-euro rescue package agreed with the European Union and IMF last year.

“The recent passage of the relevant legislation in Greece’s parliament will bolster Greece’s efforts to implement its economic reform program,» AFP quoted Atkinston as saying.