This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

IMF Approves $4.3 Billion Loan For Greece

By DESMOND BUTLER

WASHINGTON (AP) ⿿ The International Monetary Fund on Wednesday approved a ⿬3.24 billion ($4.3 billion) loan installment to Greece, following an economic review.

The decision by the IMF's board was expected following the Greek parliament's approval this week of an emergency bill ratifying dozens of conditions set by bailout lenders. Greece also completed a loan buyback last month that reduced its debt by more than ⿬20 billion ($27 billion).

Greece's economy is being kept afloat by international rescue loans from other eurozone members and the IMF. The loans were granted on condition that the country impose spending cuts and other austerity measures. As Greece has imposed the measures, unemployment and poverty rates have shot up.

But last month, the country's crisis eased after European rescue lenders approved new installments worth $65.5 billion, with $45.76 billion paid out days later and the rest to be transferred to Greece by March.

___

Follow Desmond Butler on Twitter at http://twitter.com/desmondbutler

Copyright 2011 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 18,024.06 +183.54 1.03%
S&P 500 2,108.29 +22.78 1.09%
NASDAQ 5,005.3910 +63.9670 1.29%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs