Greece submits request to IMF for new loan facility

STEPANAKERT, JULY 25, ARMENPRESS: Greecehas formally submitted a request to theInternational Monetary Fundfor a new loan facility, the country's finance ministry said on Friday. Greece is due to begin talks with itsEUand IMF lenders on a new bailout deal. The extent of the IMF's participation has remained unclear once its current program expires next year.

Armenpress reports, citing Euronews that the International Monetary Fund says it’s received a letter fromGreeceseeking a new loan, confirming a statement from the Greek finance ministry saying it had submitted a formal request.

The government had hoped not to ask for fresh help from theIMF, with whom its existing aid programme runs out in early 2016.

Greece has already asked for a loan from the eurozone’s bailout fund.

In Athens on Friday Greek political party leaders vowed to cooperate after months of intense disagreements as the country prepares for talks on a new bailout worth up to 86 billion euros.

Those talks with international creditors have been delayed.

It seems the two sides could not decide on where members of the so-called troika will stay. Such is their unpopularity due to the severe austerity measures imposed on Greece that there are serious security concerns.

But ongoing differences over reforms are also thought to have played a part in the delay.

After missing a debt repayment and closing banks for weeks, Greece has accepted the creditors’ terms.

Parliament has approved two packages of reforms, including tax rises and an overhaul of pensions.