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Fourth echelon

Greece Needs €50bn Over Three Years, Says IMF

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Greece needs €50bn over the next three years to stabilize its finances even under existing creditor plans, the IMF has said.


In a new report, the International Monetary Fund acknowledged a huge deterioration in the country's prospects in recent months.

It slashed Greece's 2015 economic growth forecast to 0%, from 2.5% forecast in April.

Of the €50bn needed, €36bn must come from EU lenders, the IMF report said.

That estimate, too, was made before Greece broke off talks with official creditors last weekend and ordered capital controls.



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