Focus on Greek investment immigration and current political news in Greece. Following the review of its third round of economic reforms by various parties, the International Monetary Fund (IMF) recently announced the disbursement of 1.74 billion euros in aid to the country, which is part of a 173 billion euro rescue plan. Additionally, the European Financial Stability Facility (EFSF) has also provided Greece with 7.2 billion euros to help stabilize the banking sector.
Since the outbreak of the fiscal crisis three years ago, Greece's economy has continued to shrink, relying on loans from the Eurozone and the IMF to pay pensions and salaries. Subsequently, the Greek government has implemented a series of austerity measures, including plans to lay off 15,000 civil servants by the end of next year. To date, the IMF has disbursed 6.57 billion euros in aid to Greece.