IMF ‘Stands Ready to Assist Greece’ – If Asked

Business | July 6, 2015, Monday // 18:58|  views

IMF managing director Ms. Christine Lagarde. Photo EPA/BGNES

The International Monetary Fund (IMF) said on Monday it was ready to help Greece – if asked to do so – following the referendum that rejected the bailout-for-reforms deal proposed by international creditors.

"The IMF has taken note of yesterday’s referendum held in Greece,” the managing director of the IMF, Christine Lagarde, said in a statement posted on the IMF website.

“We are monitoring the situation closely and stand ready to assist Greece if requested to do so."

Greeks rejected the latest proposed international bailout deal by 61.3% to 38.7% in a referendum held on Sunday.

Greece failed to repay about EUR 1.5 B in debt owed to the IMF 30 June. To date, Greece has EUR 21.2 B in outstanding obligations to the IMF.

Greece’s failure to make the repayment when due means the country can no longer receive financing from the IMF under the existing extended arrangement of EUR 28 B approved in March 2012 and the IMF will not approve new financing to Greece until it clears its arrears, the global lender said earlier.



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Tags: Greece. bailout, Referendum, creditors. Lagarde, International Monetary Fund, IMF, Lagarde


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