Current Affairs Global - 30 July 2013

1. India-born Mamnoon Hussain, a close aide of Prime Minister Nawqaz Sharif, was elected as the 12th President of Pakistan today. He will replace the incumbent President Asif Ali Zardari in September.  Hussain emerged as a clear winner in the one-sided contest with with ex-judge Wajihuddin Ahmad of Pakistan Tehreek-i-Insaf party, state media reported. Born in the historic city of Agra, he along with his family migrated from India during partition in 1947.

2. The International Monetary Fund has released USD 2.29 billion in aid for Greece after completing a review of the country-s performance under the international rescue programme. The latest disbursement means that Greece has received about USD 10.94 billion from the IMF under the bailout coordinated with the European Union and the European Central Bank in March 2012. Greece was first bailed out for 110 billion euro in 2010 but when that failed, got a second rescue worth 130 billion euro plus a private sector debt write-off totalling more than 100 billion euro.