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Greece submits official request to IMF for new loan

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Athens, July 25 : Greece has officially requested the International Monetary Fund (IMF) for a new loan, as the country seeks a huge third bailout from its creditors.

Greek finance minister Euclid Tsakalotos wrote a letter to IMF managing director Christine Lagarde seeking a new loan facility.

Greece had initially planned not to ask the IMF for more funds, reports say.

Talks between Greece and its European creditors on a third bailout worth Euro 86 billion have been delayed owing to logistical problems.Â

The Washington-based IMF wants Greece’s debt burden to be reduced to a level it considers “sustainable”, but it faces resistance from reluctant European partners.

Greek Prime Minister Alexis Tsipras has so far survived a challenge from party MPs on the issue of the austerity measures that he has introduced to get the Greek economy back on track. (ANI)