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IMF and EU halts Greece bailout aid discussions

(Credit: Reuters) The image shows the corporate logo of the International Monetary Fund.IMF
September 29
12:00 PM 2013

The international lenders of Greece temporarily halted their latest bailout to Athens on Sunday. The lenders said Greece had made good progress and expected to resume discussions with the government soon. The halted discussions between the two sides had already been flagged at the end of the first week of inspection. The inspectors for the aid were seeking to determine the size of the third bailout for Greece, said a Reuters report.

In a joint statement, the European Union, IMF and European Central Bank said, "To allow completion of technical work, policy discussions in Athens will pause, and are expected to resume in the coming weeks. In the meantime, contacts will continue between staff and the Greek authorities."

The inspectors for the proposed bailout will conduct a review that was expected to stretch at least until the end of October. The inspectors would also review Greek stock reforms and update their growth and budget forecasts.

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