Greece’s $60.5 billion aid meeting delayed

Submitted by Abhishek Chauhan on Mon, 04/19/2010 - 12:58

Cloud of volcanic ash has delayed the visit of European and International Monetary Fund officials for two days, coming to Athens for a meeting to discuss aid for the debt-strapped Euro-zone country.

Representatives of the European Commission, the European Central Bank and the IMF were schedule to arrive Greece on Monday to discuss on the technical details of a joint aid package.

A joint aid package was announced a week ago to provide around €45 billion ($60.5 billion) loan to Greece this year.

The financial aid was announced after the meeting of finance ministers from the 16 countries that use the euro.

Greece's finance minister said, "Due to the difficulties in international air travel and with the cancellation of flights, the consultations between the Greek governments, the European Commission, the ECB and the IMF have been delayed a few days. If circumstances permit, the new planned starting date for the consultations will be Wednesday, April 21."

Greece is struggling to cover 12 billion euros to cover bonds maturing in May.