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

Images show MH370 crashed in Indian Ocean

Prime Minister Najib Razack has confirmed the Malaysian flight MH370 went down in the Southern Indian Ocean.

FBI releases photos of 2 suspects

The FBI has released several photos of 2 suspects they have labelled persons of interest in regards to the Boston bombings.


Nepalese earthquake death toll rises to 2500

Powerful aftershocks are continuing to shake Kathmandu and surrounding areas in Nepal, following the weekend’s devastating earthquake. Following the initial 7.8 magnitude earthquake, one of the aftershocks has measured at


Mine collapse in Turkey kills 17

The death toll from a mine collapse in Turkey has risen to 17, with hundreds of others still trapped.


No Comments Yet!

You can be first to comment this post!