Greek debt crisis: Greece 'seeking new loan' from IMF, a step closer to bailout - Greece's finance minister Euclid Tsakalotos writes to International Monetary Fund (IMF) head Christine Lagarde seeking new loan but reports say 'logistical problems' are delaying talks in Athens.
The Greek government, which is seeking a 3-year bailout worth up to 86 billion euros to avoid financial meltdown and a chaotic exit from Eurozone, had initially planned to go without fresh help from the IMF.
Tsakalotos noted Greek parliament had passed two laws enshrining a series of tough reforms demanded by the creditors, including pensions overhaul and tax rises, in a step closer to finalizing the deal.
Tsakalotos confirmed Greece, which has been bailed out by the European Central Bank, European Union (EU) and IMF twice since 2010, had already requested a new 3-year loan from the Eurozone?s bailout fund, the European Stability Mechanism.
The country's existing aid program from the IMF runs until early 2016, and the letter seems to have been a gesture of goodwill as a new request is not technically essential.
Greece said negotiators would fly in to Athens to begin the talks on Friday, but this became "in the coming days," according to a European Commission spokeswoman, with the location of the offices and talks for the creditors seemingly among the sticking points.
The two sides are facing pressure to ink the rescue deal before 20th Aug, when Athens is scheduled to make a loan repayment of 3.2 billion euros to the ECB that it cannot presently afford.
The IMF warned that completing the deal, which is conditioned on Greece implementing painful reforms, would not be easy.
The Fund took part in two previous bailouts but has said it will only participate if European creditors reduce Athens' debt burden to a level it considers "sustainable."
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