GO
Loading...

IMF board approves $4.6 bln in aid for Greece

A homeless woman sits in front of a shuttered shop in Athens, Greece.
Ayhan Mehmet | Anadolu Agency | Getty Images
A homeless woman sits in front of a shuttered shop in Athens, Greece.

Greece is set to receive $4.64 billion from the International Monetary Fund after the institution's board on Friday signed off on the latest review of Greece's rescue package.

The disbursement comes after the IMF and Greece's European lenders finished their review of Greece's progress under its 173 billion euro ($236 billion) bailout in March, ending six months of protracted negotiations. Greece last got an IMF aid disbursement in July 2013, of $2.3 billion.

Read More Greece still has large financial needs: IMF Europe head

The IMF has so far lent Greece about $15.8 billion under a four-year program, meant to help Athens recover from a sovereign debt crisis, rebuild its economy and return to markets.

—By Reuters

Featured

Contact Europe News

  • CNBC NEWSLETTERS

    Get the best of CNBC in your inbox

    › Learn More

Europe Video

  • Itay Michaeli, auto analyst at Citi, discusses General Motors (GM) and Ford ahead of their quarterly results. He says GM's outlook for the rest of the year should be pretty positive on the back of strong U.S. results.

  • Justin Lafferty, editor of Inside Facebook, discusses Facebook's earnings and, in particular, its strategy for attracting advertisements.

  • Cole Smead, managing director at Smead Capital Management, says that he has hardly any exposure to the tech sector, because technology companies tend to have weak free cash flow positions.