IMF sends Greece and Portugal more aid

01/17/2013 | Reuters · Washington Post, The · Reuters · Wall Street Journal, The

The International Monetary Fund has approved payment of €3.24 billion in aid to Greece. However, IMF Managing Director Christine Lagarde emphasized that "[f]orceful structural reforms and broad-based domestic support will be needed to meet challenges." The IMF also made a rescue tranche available to Portugal, despite the country's struggles to reach deficit targets. Tax revenue was well below expectations, affected by austerity.

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Reuters · Washington Post, The · Reuters · Wall Street Journal, The

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