Greece needs 71 billion euros in new EU aid

US: Greece needs an additional 71 billion euros ($100.6 billion) in European Union aid and 33 billion euros from private creditors to weather its debt crisis, the IMF said Wednesday. The International Monetary Fund, in a report on the state of its May 2010 rescue loan to Athens, said it intended to continue its financing program but noted stiff challenges to recovery.

Market sentiment has sharply soured against Greek debt, the IMF noted, pushing back its estimate for the eurozone country's return to the debt markets to the second half of 2014. The prior estimate was for early 2012.

"For the purpose of this assessment exercise, it is assumed that voluntary rollovers/maturity extensions reduce financing needs by 33 billion euros through June 2014," the IMF wrote in a section titled "Private sector involvement."

In the following paragraph, "Official support," the IMF said: "Additional support from euro area member states of 71 billion euros is expected. AFP