Greek Parliament ratifies decision by IMF regarding New Arrangements to Borrow

Greece’s Parliament, by a majority vote, this week ratified a decision by the IMF’s executive directors regarding New Arrangements to Borrow (NAB).

Speaking afterwards, Greek FinMin Christos Staikouras referred to yet another step towards further boosting the country’s credibility and confidence by its partners, markets and international investors in the Greek economy.

To date, 38 countries and organizations have agreed to finance the IMF’s funding, with the Greek participation reaching two billion euros.

With the ratification of the agreement “Greece expresses its readiness to contribute, in the future and in case this is deemed necessary, funding what will collectively exceed the sum foreseen in the agreement, with the intent of dealing with whatever crisis in the financial system,” Staikouras said.