WASHINGTON (AP) — The International Monetary Fund plans a meeting Sunday to approve a $40 billion loan to Greece as part of a rescue package to save the country from looming bankruptcy.
The bailout also includes $105 billion loan from the 15 other European Union members who use the euro as their currency.
An IMF spokesman said Tuesday its decision-making board would convene on Sunday to act on Greece’s request for a loan.
With debts of $380 billion and a budget deficit of 13.6 percent of gross domestic product, Greece has been struggling to pull its finances in order and was less than three weeks away from default when the eurozone finance ministers agreed on Sunday to activate the three-year $145 billion eurozone and IMF rescue.
