Greece needs 71 bn euros in new EU aid: IMF
GREECE needs an additional 71 billion euros (S$122 billion) in European Union aid and 33 billion euros from private creditors to weather its debt crisis, the International Monetary Fund (IMF) said on Wednesday.
The IMF, in a report on the state of its massive loan to Athens, said it intended to continue its financing, but predicted a deeper 2011 recession than previously thought in Greece, with the economy contracting 3.9 per cent.