IMF to Review Greek Progress After June Elections

IMF to Review Greek Progress After June Elections

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The International Monetary Fund will not return to Greece to review its loan program before Athens holds fresh elections on June 17, an IMF official said on Thursday.
“We take note that elections have been called and we look forward to being in contact with the new government when it has been formed,” David Hawley, IMF deputy director of external affairs, said at a news briefing.
Without additional support, Greece may run out of money before the end of June to pay government salaries and social welfare programs. It depends on a €130-billion support program from the IMF and the European Union.

But the IMF only disburses funds if a country complies with economic reforms tied to the program. The Greek public have overwhelmingly rejected the austerity measures, throwing into question the future of the IMF/EU bailout program.
The IMF official repeated the calls from its Managing Director Christine Lagarde for European leaders to reach a comprehensive solution to the euro zone crisis.
(source: Reuters)