Economy of Greece |
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Overview |
History |
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Greece is one of the original members of the International Monetary Fund, joining it on December 27, 1945.[1] It has a quota of 2,428.90 million SDRs and 25,754 votes, 0.51% of the total IMF quota and votes.[2] Greece has been represented on the IMF Board of Governors by Minister of Finance Christos Staikouras since 2019.[2] Greece elects an Executive Director on the fund's Executive Board with Albania, Italy, Malta, Portugal and San Marino. Michail Psalidopoulos is the elected alternate director.[3] Greece has signed two loan agreements with the IMF: a Stand-By Arrangement from 2010 to 2012 and an agreement under the Extended Fund Facility from 2012 to 2016, borrowing a total of 27,766.3 million SDR.[4] Greece owes the IMF 6,735.64 million SDR,[4] and is the fund's third-largest borrower (after Argentina and Ukraine).[5] In 2018, the fund began conducting annual post-program monitoring of Greece in addition to its annual Article IV consultation.[5]