The IMF announced a “precautionary” credit line for still bailout-dependent Greece on Thursday, with a Tweet on the Fund’s official account citing a “Stand-By Arrangement” worth 1.6 billion euros.
The decision was made during a same-day IMF executive board meeting in Washington D.C.
The “Greek issue” resurfaced this past week amid speculation over whether the coalition government in Athens would attempt a return to capital markets, three years after the previous government raised two bond issues.
However, press reports said IMF opposition blocked such a prospect, with the Fund reportedly warning that fresh borrowing would exceed a debt ceiling it calculates for Greece.
