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IMF Receives Greek Request for New Loan

IMF_GreeceThe International Monetary Fund stated on Friday that it had received a letter containing Greece’s request for a new loan. “We will discuss with the Greek authorities and with our European partners the timing and the modalities for the discussions,” the IMF noted in its official statement.
The Greek Finance Ministry also confirmed, on Friday that a formal request for a loan had been submitted to the IMF, while the Greek authorities urged the fund to take part in the negotiations between Greece and its European creditors, in order to form the country’s third bailout deal.
IMF negotiators will arrive in Athens over the weekend and the talks will probably begin on Monday, before the Greek side restarts the negotiations with the European partners. The bailout negotiations need to be completed by August 20, when Greece is supposed to pay another major installment.
The letter to the IMF, signed by Greek Finance Minister Euclid Tsakalotos, noted that Athens believes it will take a long time before the Greek economy recovers and “returns to a vigorous and sustainable path to growth with fairness and social inclusion.”
The full letter can be found here.

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