Press Release No. 11/440
December 5, 2011
The Executive Board of the International Monetary Fund (IMF) today completed the fifth review of Greece’s economic performance under a program supported by a three-year Stand-By Arrangement (SBA) for Greece. The completion of the review enables the immediate disbursement of an amount equivalent to SDR1.9 billion (about €2.2 billion), bringing total Fund disbursements under the SBA to an amount equivalent to SDR 17.5 billion (about €20.3 billion).
In completing the review, the Executive Board also approved the modification of performance criteria as well as waivers of non-observance of performance criteria related to the primary cash balance for the general government, privatization receipts, and external payments arrears. The Board also approved waivers for the non-observance of the external payments arrears performance criterion following minor data revision after the approval of the arrangement.
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