IMF approves allocation of new loan to Greece

Baku. 21 July. REPORT.AZ/ The Board of Directors of the International Monetary Fund (IMF) reached an agreement in principle on granting Greece a loan of 1.6 bln EUR ($ 1.8 bln).

Report informs citing the Vesti Economics, says the IMF's statement.

"In order for the agreement to enter into force, the second decision of the Board of Directors should be adopted," statement reads.

The agreement expires on August 31, 2018, shortly after the completion of the European Financial Stability Facility (EFSF).

In mid-June, finance ministers of the euro area member states announced achievement of a preliminary agreement on the allocation of a new credit tranche for Greece in amount of 8.5 bln EUR ($ 9.9 bln).