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WASHINGTON (Sputnik) — The International Monetary Fund (IMF) intends to approve in principle a new loan package for Greece because it is confident there is a good chance to reach a deal on the debt relief, IMF spokesperson Gerry Rice said in a briefing on Thursday.
On June 15, IMF head Christine Lagarde announced her intention to propose to the IMF’s Executive Board the approval in principle of a new loan package for Athens.
"If we did not think that we had a good chance of getting agreement on the debt relief then we would not go ahead in this way," Rice told reporters.
The spokesperson noted the IMF expects the issue to be brought to an early conclusion.
Greece, burdened with outstanding debt, has been experiencing a financial crisis since 2010. The country has received several bailout payments provided by the European Commission, European Central Bank and the IMF in exchange for implementing a number of austerity reforms. The loans, however, only resulted in the increase of Greece’s debt.
The second review of the third Greek bailout program worth about 86 billion euros ($97.3 billion) is currently underway.
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