adminmoney into troubled Greece and Europe, and worries that Greece’s fractious politics might impede progress in restructuring its finances, the loan programme is expected to pass.
After keeping its plans secret for weeks until the EU and Athens could complete a massive 107 billion euro private sector debt write-off, last Friday IMF chief Christine Lagarde announced a larger than expected 28 billion euros proposal.
The loan would span four years rather than the normal three years for the IMF’s standard extended fund facility (EFF).
On Wednesday, the IMF said it would officially extend the maximum EFF period by one year to four, which would accommodate the proposed Greek program.
The IMF was disappointed by Greece’s progress under its previous 30 billion euro loan, part of a huge IMF-EU bailout that failed to get Athens’ finances on a sustainable path.
The IMF disbursed 20,3 billion euros of that loan. The rest has been cancelled to make way for the new loan programme. — AFP.
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- July 31, 2026
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