Emerging market nations of the International Monetary Fund warned that body on Thursday not to contribute too much money to Greece’s second bailout, according to a Financial Times report.
Reuters reported that the paper cited the representatives of several “non-European economies” as having said a number of governments were “unwilling to risk financial contagion by curtailing IMF lending to Greece,” but were “alarmed at the risks the fund was taking.”
Paulo Nogueira Batista, Brazil’s IMF director and a member of the 24-member executive board that handles the IMF’s daily operations, was referred to as believing the austerity plan put in place by the Greek government was too harsh, and that the restructuring of European bank-held Greek debt was inadequate.