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Financing needs for Greece could add up to over $55.42 billion (50 billion euros) over the period from October 2015 to end 2018 in order to keep the country afloat, the International Monetary Fund (IMF) said in a staff report.

The IMF’s warning on Thursday came before Greece’s upcoming referendum on July 5. Although the Greek government stressed the referendum was on its creditors’ offer for a reforms-for-cash debt deal, skepticism and strong reactions that the referendum could lead to Grexit was also widespread in Greece.


The report said Greece is unlikely to close its financing gaps from the markets on terms consistent with debt sustainability.

 It slashed Greece’s economic growth forecast in 2015 to zero percent, compared to a growth of 0.8 percent in 2014.

The estimate of the additional 50 billion euros in funding, including 36 billion euros from EU lenders, was based on the assumption that existing support from the EU and IMF would continue through this summer.

The report was prepared before the Greek authorities have closed the banking sector, imposed capital controls, and incurred arrears to the IMF and did not reflect these developments, which the IMF believe are likely to have a significant adverse economic and financial impact.

In May 2010, the IMF approved 30 billion euros in financial assistance for Greece under a Stand-By arrangement, and then in March 2012, the lender approved 28 billion euros for Greece under an extended arrangement to support its economic reform program.

To date, Greece has 21.2 billion euros in outstanding obligations to the IMF. A repayment of about 1.5 billion euros was due to the IMF on June 30. Greece did not make the repayment when due and is now in arrears to the Washington-based lender, which makes Greece the first advanced economy default on IMF debt. (IANS)


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IANS

In all the wedding excitement, it's easy to overlook the impact a wedding has on the environment.

By Prerana Agarwal Saxena

In all the wedding excitement, it's easy to overlook the impact a wedding has on the environment. While everyone is making their big fat Indian wedding dreams come true, they are also adding their carbon footprint and undue energy consumption. Modern couples are now looking for ways to have a wedding with a sustainably conscious mindset. It's become about incorporating less waste, locally sourced and seasonal food, natural materials over the use of plastic. Mindful wedding planning and decor includes the use of recycled paper and goods along with eco-friendly venue needs. Check out this quick guide to achieve a sustainably conscious wedding without compromising on luxury:

Choose locally sourced material to uplift artisans
Sustainable can be luxurious too, incorporate some native flavour into the decor and theme. With the use of locally sourced materials and local artisans coming into play, the wedding instantly becomes sustainable. Include the work of local vendors ensure minimal packaging requirements, thus saving on unnecessary plastic and lamination. It also decreases the need for transporting elements from other cities and hence lowers the carbon footprint. For instance, at one of our weddings, we made use of sand art for a setup in Jodhpur. This helped promote local work while also being environmentally friendly with zero wastage of other materials. In another instance from Rajasthan, the traditional glass-blown technique was used to build decor items while giving a cultural touch to the destination wedding.

sustainable sand art Sustainable can be luxurious too, incorporate some native flavour into the decor and theme. | Photo by Jason Coudriet on Unsplash

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Photo by Hakan Nural on Unsplash

The vaccination was administered from 7 a.m. till 7 p.m. and the compiled data was made available late at night.

The Tamil Nadu health department has administered 16,43,879 lakh doses of vaccine in the second mega vaccination camp organised by it. The state public health department in a statement on Sunday said that this has taken the total vaccination to one crore since the beginning of September till date. The vaccination was administered from 7 a.m. till 7 p.m. and the compiled data was made available late at night.

The health department officials also said that as the state has almost exhausted its quota of vaccines, there would not be any vaccines on Monday. Regular vaccination will resume after the vaccine supplies arrive from New Delhi, officials said. The state health department had expected to vaccinate 15 lakh people on Sunday in 18,824 centres spread across primary health centres, anganwadis, noon meal centres, government hospitals, schools and some auditoriums.

person in white long sleeve shirt holding gray pen The health department officials also said that as the state has almost exhausted its quota of vaccines, there would not be any vaccines on Monday. | Photo by Mat Napo on Unsplash

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IANS

Hanisha Kapoor, COO, ArchiesBeauty.com shares makeup trends experimented by these Bollywood divas throughout 2021 for inspiration.

Festivals are just around the corner and while you brainstorm about OOTDs (outfit of the day), don't forget the right makeup. Hanisha Kapoor, COO, ArchiesBeauty.com shares makeup trends experimented by these Bollywood divas throughout 2021 for inspiration. While some stuck to the classics, others mixed it up... take a look:

The Classic Red Lip
We don't see a future where classic red lips go out of fashion. The right way to achieve this celebrity look is to focus on accentuating your lips and keeping the rest of the face minimal. Give your lips a good scrub to plump them, moisturize and follow it up with a red lip liner to define the shape of your lips. Now go on with the perfect shade of red and finish your look with a slick of eyeliner, minimal concealer, and foundation.

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