IMF board meeting about $40B Greece bailout | business | Hindustan Times
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IMF board meeting about $40B Greece bailout

The board of the International Monetary Fund is meeting in Washington to vote on a $40 billion bailout for Greece. The loan is part of a $140 billion rescue that the IMF negotiated with European countries.

business Updated: May 09, 2010 21:42 IST

The board of the International Monetary Fund is meeting in Washington to vote on a $40 billion bailout for Greece. The loan is part of a $140 billion rescue that the IMF negotiated with European countries. The IMF already has indicated that it will approve the loan.

European leaders also are meeting Sunday to hash out the terms of a proposed broader rescue. They want to have a plan in place before Asian markets open for the week.

Greece has been forced to take austerity measures to address its economic collapse, sparking rioting and social unrest. Analysts fear the debt crisis could expand to other western European countries.