IMF Sends Team to Greece

Thursday, April 15, 2010

The IMF tries to help Greece as yield spreads soar to new highs. According to a release IMF head Dominique Strauss-Kahn will dispatch a team to Athens in order to evaluate a possible IMF intervention.
The release quoted Strauss-Kahn:
Following a request by the Greek authorities, I have agreed to send an IMF team to Athens to begin discussions with the Greek authorities this coming Monday on policies that could provide the basis for Fund financial assistance, under a multi-year program, in the case that the authorities decide to ask for such assistance. The Greek decision to initiate Fund program engagement is consistent with the agreement among European leaders last weekend that financial support from members of the euro area should go hand-in-hand with IMF engagement and financial assistance.

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