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IMF, the missing piece in Greek debt deal

Fund wants Europe to provide debt relief in order for it to give cash towards next Greek bailout

Published Sun, Aug 16, 2015 · 09:50 PM

IMF

New York

AT long last, European creditor nations and Greece have reached an agreement on a third bailout in five years.

The bailout, which was approved by Greece's Parliament on Friday, included familiar details: in return for an infusion of 86 billion euros, (S$134.4 billion), Greece has promised to increase taxes, cut spending and enact measures to make its economy function more efficiently.