Greece Approved for $1.8 Billion Conditional Loan From IMF
- Fund will only dole out loans if it deems debt sustainable
- Banks must complete asset quality review before program ends
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The International Monetary Fund agreed to a new conditional bailout for Greece, ending two years of speculation on whether it would join in another rescue and giving the seal of approval demanded by many of the country’s euro-area creditors.
The Washington-based fund said Thursday its executive board approved “in principle” a new loan worth as much as $1.8 billion. The disbursement of funds is contingent on euro-zone countries providing debt relief to Greece.