IMF approves its share of sixth loan tranche

The Executive Board of the International Monetary Fund — one of Greece?s three foreign creditors — on Monday approved its share of an 8-billion-euro rescue loan to Greece following the completion of its review of the government?s economic reforms.

In a statement, the IMF’s executive board said: ?The completion of the review enables the immediate disbursement of an amount equivalent to $1.9 billion (about 2.2 billion euros), bringing total Fund disbursements under the SBA to an amount equivalent to $17.5 billion (about 20.3 billion euros).?

SBA refers to the IMF’s so-called three-year Stand-By Arrangement for Greece.

Last week, eurozone leaders approved the release of their share of a sixth tranche of rescue funding for Greece — a sum of 5.8 billion euros or $7.7 billion.

Subscribe to our Newsletters

Enter your information below to receive our weekly newsletters with the latest insights, opinion pieces and current events straight to your inbox.

By signing up you are agreeing to our Terms of Service and Privacy Policy.