There is strong support at the IMF for joining a new bailout package for Greece but the fund will not decide whether to participate until autumn, Sweden’s representative to its executive board told a newspaper.
The International Monetary Fund has been part of Greece’s first two financial rescues, but doubts have been raised about its commitment to a third package.
The European Commission said on Friday the Fund was participating fully in bailout talks between Greece and its international lenders that started in the last week of July.
A day earlier the Financial Times, citing a summary of an IMF board meeting, said the Fund could not officially join the talks until after Greece agreed comprehensive reforms.
Thomas Ostros, who is an alternate – or replacement – director on the fund’s 24-member board, said there was “strong (IMF) support for being part of a new loan program, but it will take time,” according to an interview in Thursday’s edition of Swedish daily Dagens Nyheter.
This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.