The IMF has confirmed its participation in negotiations for the third Greek loan programme since 2010, seeking debt relief, privatisation and pension reform. The IFC has invested €150 million in Greece's four main banks.
IMF has been criticised for undermining negotiations between Greece and other creditors and ignoring the results of a democratic referendum.
Bodo Ellmers of Eurodad argues that, should the IMF not get repaid by Greece, it could finally shock the institution from being a “political puppet” into an effective crisis response instrument.
Troika mulls new loan while Greek government touts economic success story but economic, health and human rights conditions deteriorate. Lagarde admits “miscalculations” occurred in Greek loan, while European parliamentary committee blasts Troika as unaccountable and illegitimate.
As global economic risks and stagnation in major economies are expected to persist, the IMF's rhetoric is increasingly anti-austerity, reflecting changing priorities in member states. However, states where IMF policy influence is greatest, spending cuts continue.
Controversy erupted in January after the IMF implied lenders to Greece may need to provide yet more debt relief, while the social and economic sustainability of other Troika (the lending triumvirate comprising the Fund, European Central Bank and European Commission) programmes is still in question.
The Cyprus government nearly fell in February over IMF and European demands for the privatisation of three public utilities.
Former Portuguese finance minister, dubbed "fourth member of the Troika" appointed to head IMF fiscal affairs department.
Minutes from Oxfam-hosted civil society seminar at 2013 Annual meetings on European austerity and inequality