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IMF ‘ready to assist Greece if requested’

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  • Recently 61% of Greek voters has rejected the creditor’s bailout plan.
  • International Monetary Fund chief Christine Lagarde said on 6th July, the emergency lender is ready to help Greece if requested.
  • Before Sunday’s referendum by Greek voters, Greece defaulted on its loans to the IMF last week and without clearing those arrears with the IMF, the fund cannot be allowed by its bylaws to lend the debt-ridden country.
  • IMF has declared that their fund can be technical assistant to Greece if they seek for help.
  • After the referendum, European Central Bank seems to be the only institution capable of stemming market panic and help in recovering economic crisis in Greek.

IMF(International Monetary Fund):-

  • The International Monetary Fund (IMF) is an international organization having 188 countries as member.
  • Headquarters is in Washington, D.C., USA.
  • Main function of IMF is to supervise international monetary dealings of different countries over world.