IMF to meet Sunday to approve Greece's request for 40 billion dollar loan

09:10, May 05, 2010      

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The International Monetary Fund said on Tuesday that its board will meet Sunday to approve Greece' s request for a 40 billion dollar loan to bail out the debt-ridden EU country.

"The Executive Board of the International Monetary Fund intends to convene on Sunday morning, May 9, 2010, to act on Greece's request for an SDR 26 billion (about 30 billion euros, or 40 billion U.S. dollars) Stand-By Arrangement," said the IMF in a statement.

"The IMF will issue a press release following the Board's meeting," it added.

Eurozone finance ministers agreed in Brussels on Sunday to activate the aid package for Greece, offering along with the IMF 110 billion euros to Greece in the next three years, with euro area members contributing for their part 80 billions euros.

Source: Xinhua


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