The head of the International Monetary Fund confirmed Thursday that Greek authorities requested talks on a multi-year financing deal, as part of a joint rescue package with euro-zone countries.
The head of the International Monetary Fund confirmed Thursday that
Greek authorities requested talks on a multi-year financing deal, as part of a
joint rescue package with euro-zone countries.
"Following a request by the Greek authorities, I have agreed to send an
IMF team to Athens to begin discussions with the Greek authorities this coming
Monday on policies that could provide the basis for fund financial assistance,
under a multi-year program, in the case that the authorities decide to ask for
such assistance," IMF Managing Director Dominique Strauss-Kahn said in a
statement.
"The Greek decision to initiate fund program engagement is consistent with
the agreement among European leaders last weekend that financial support from members
of the euro area should go hand-in-hand with IMF engagement and financial
assistance," he said.
Earlier Thursday, Greek Finance Minister George Papaconstantinou sent a letter
to Strauss-Kahn and European leaders asking for "discussions" about
an aid package in case the need for financing arises.
Last Sunday, finance ministers from the 16 countries that use the euro agreed
on a joint rescue plan for Greece that would include as much as EUR30 billion
from other euro-zone members in the first year. The IMF is also expected to
contribute EUR15 billion, though the amount hasn't been announced.
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