IMF Awaits Political Support Before Releasing Greek Aid

The International Monetary Fund won’t release Greece’s next tranche of aid until there is broad political support for the austerity measures that are a condition of the loan, according to an IMF spokesman.

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“It’s important that the unity government now shares its commitment to the implementation of the economic program” and the decisions agreed to by European leaders last month, IMF spokesman David Hawley told reporters on Thursday. “Once broad political support” for the measures “is assured, then we can proceed with completion” of the review and the release the aid.

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Greek Prime Minister Lucas Papademos and his unity government have been given a three-month mandate to implement budget measures and secure its next 8 billion-euro tranche of aid by the middle of December, as well as a new 130 billion-euro bailout agreed to with euro-zone policymakers last month.

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