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Greece Formally Requests New IMF Loan For Debt Bailout

Greece has submitted an official request to the International Monetary Fund (IMF) for a new loan as it seeks a huge third bailout from its creditors.

The formal request was made in a letter to IMF Managing Director Christine Lagarde.

Greece’s Finance Ministry says the letter was delivered on July 24 as negotiators from the European Union, the European Central Bank, and the IMF met in Athens with Greek government officials for negotiations on a new debt deal.

The debt-crippled Greek government, led by radical-left party Syriza, had originally planned to go without fresh help from the IMF as it considers the agency too wedded to draconian austerity measures.

Based on reporting by Reuters, AP, and AFP