IMF Said to Move Toward Greek Bailout Loan in Merkel Boost
- Fund’s bailout participation critical for German chancellor
- New IMF loans for Greece seen as limited to $6 billion
Greek Opposition Leader Says Party Won't Back Austerity
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The International Monetary Fund is moving toward rejoining Greece’s bailout, according to people familiar with the discussions, suggesting it will meet a condition set by Germany and other euro-area nations for continued aid.
In a shift that may help break the impasse over its participation, the IMF is ready to offer Greece a smaller loan than the last one provided five years ago, two people said, making it easier for the fund to justify its involvement to its shareholder countries. The amount under discussion is $3 billion to $6 billion, one of the people said, compared with a 29 billion-euro ($31 billion) IMF credit line under Greece’s second bailout in 2012.