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IMF Releases New Funds For Greek Rescue

IMF chief Christine Lagarde

IMF chief Christine Lagarde

The International Monetary Fund said it was releasing 3.2 billion euros to Greece as part of its joint bailout with the European Union for the debt-stricken country.

New IMF chief Christine Lagarde stressed the Greek bailout is "delivering important results."

The IMF said Athens was making "some progress" in reforms and predicted the country would return to positive economic growth in the first half of 2012.

The newest release of the IMF's part of the three-year, 110-billion-euro EU-IMF bailout came as Europe's leaders and banks struggle to achieve an ostensibly voluntary restructuring of the country's debt to relieve pressure on Athens and avert a default on its debt.

compiled from agency reports