The global lender also approved to increase the loan size to around USD 7 billion and extended it till June 2023.
The euro steadied in Asian trade on Wednesday but hovered near two-year lows against the dollar as investors fretted about the outcome of a German court hearing on the euro zone bailout fund, the latest obstacle to efforts to beat the region's debt crisis.
French President Francois Hollande may have set himself up for a fall this week, as Germany's Angela Merkel shows no sign of yielding to his push to provide more financing guarantees to stabilise the euro zone.
Moneycontrol.com got Vinay Khattar, head of research at Edelweiss Wealth to answer the stock queries you sent us on our Facebook page as part of KYI (Know Your Investment). Check out his comments.
Asian shares and the euro gained modestly on Monday, relieved by The Greek parliament's passage of austerity measures which put the country a step closer to securing a much-needed bailout fund and avoiding a messy default.
We see soft global economy, not only in the US or developed markets, but also in Asia, said Bill Belchere of Mirae Asset Management. He feels that the commodities would fall in this uncertain environment. He expects dollar to remain stable.
Despite being the mood lifter for the markets today, Adrian Foster of Rabobank says the European Union’s bailout fund has clear risk of implementation.
Europe is working to ramp up the fire-power of its bailout fund amid growing alarm over its slow handling of a debt crisis that threatens to derail a global economic recovery, but European policymakers disagree over the best course of action.
Greece's parliament passed a law on Wednesday to expand the powers of the European Financial Stability Facility (EFSF), which render the euro zone's bailout fund more flexible.
The euro bloc risks fresh market attacks, perhaps as soon as in the next few weeks, as it tries to implement promised steps to address its debt crisis.