IMF Says Greek Program Performing Well, Approves Payment

The International Monetary Fund said Greece’s rescue program has “continued to perform well” and it approved payment of another 2.5 billion euros ($3.3 billion), according to a statement released in Washington today.

The fund said the Greek authorities are “to be commended” for their efforts to implement budget cuts, economic policies and other reforms. Inflation is falling and the Greek economy is becoming more competitive, the IMF said.