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The IMF released €1.7bn to Greece on Monday (Photo: International Monetary Fund/Cliff Owen)

Brazil refused to back more IMF money for Greece

Brazil's executive director at the IMF Wednesday (31 July) revealed he did not support a decision earlier this week for the fund to continue supporting Greece.

Paulo Nogueira Batista’s highly unusual comments came as the IMF the same day said that Greece is facing a €10.9bn gap in its government finances - €4.4bn for 2014 and €6.5bn for 2015.

"Recent developments in Greece confirm some of our worst fears,'' he said.

“Implementation [of Greece's reform programme] has bee...

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The IMF released €1.7bn to Greece on Monday (Photo: International Monetary Fund/Cliff Owen)

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