Greece gets credit lifeline, IMF joins bailout

16-6-2017 Business Mail BusinessMail

Greece gets credit lifeline, IMF joins bailout

By Jan Strupczewski, Renee Maltezou and Francesco Guarascio

Euro zone governments threw Greece another 11th-hour credit lifeline on Thursday worth $9.5 billion and sketched new detail on possible debt relief as the IMF finally offered to help out after two years of hesitation.

The 8.5 billion euros of loans from the euro zone’s 18 other states, including Berlin which is wary of easing terms for Greece ahead of a German election in September, lets Athens avoid defaulting on bailout repayments next month and recognises unpopular cuts and reforms the left-wing government has made.

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