IMF agrees to bailout loan for Greece

IMF agrees to bailout loan for Greece

Eurozone finance ministers and the International Monetary fund have reached an agreement to reduce Greece’s massive debt, and release urgently needed funds to the struggling country, which is on the brink of bankruptcy.

After 12 hours of talks, Greece’s international lenders have agreed on a package of measures to reduce Greek debt by 40 billion euros, cutting it to 124 percent of gross domestic product by 2020.

Greece’s debt is currently forecast to peak at 200 per cent of GDP, within the next two years.

Greece will receive up to 43.7 billion euros, to be paid out in stages, starting next month.

About author

Libby Dreyer
Libby Dreyer 1729 posts

Libby has worked as a Senior Journalist at National Radio News since February 2011. She graduated with a Bachelor of Journalism from the University of Canberra in December 2010.

View all posts by this author →

You might also like

World

25 more girls allegedly kidnapped in Nigeria

Suspected Boko Haram militants have kidnapped at least 25 girls in north-eastern Nigeria.

World

Fifa in crisis amid corruption arrests

The United States Attorney General Loretta Litch has announced nine current and former officials of the world’s governing football body FIFA have been arrested on corruption charges involving more than

World

WHO says Ebola will affect 20,000

The World Health Organisation says the Ebola outbreak in West Africa could affect more than 20,000 people.

World

Avengers smash global box office records

By Nicholas Everard After months of anticipation, the latest superhero blockbuster Avengers: Infinity War has been released, smashing domestic and world wide box office records. The film has been released with the

0 Comments

No Comments Yet!

You can be first to comment this post!