IMF to Provide No New Funds to Greece
The German news magazine Spiegel reports that the IMF has told the EU it will provide no additional funds for Greece. The report has sparked fresh fears that Greece could fall into bankruptcy by the autumn.
A report by a German news magazine on Sunday sparked fresh concerns about the possibility of Greece being forced into insolvency.
In an article published on its website, Spiegel cites unnamed senior European Union sources in Brussels who told the news magazine that the International Monetary Fund (IMF) had signaled it would not contribute to any further aid for Greece.
According to the report, this makes the possibility of Greece going bankrupt more likely, and it could do just that as soon as September.
The report comes ahead of a planned visit to Athens by a team of auditors from the troika of the European Commission, the European Central Bank (ECB) and the IMF. They are to conduct another inspection of the new government’s economic program to determine whether Greece is doing enough to comply with the terms of its second international bailout to merit receiving the next tranche of funds.