IMF demands a sustainable debt to participate in the new Greek bailout

30 October 2015
110 Views

The International Monetary Fund is open to discussing its participation in the new bailout program for Greece, provided that certain terms are taken into consideration, such as the need to restructure the country’s public debt, argued IMF spokesperson Jerry Rice on Thursday.

According to Mr. Rice, the IMF is prepared to participate in the program, provided that it is based on two axes: strong reforms and a sustainable debt. Resuming and completing the first review will depend on the government policies and their implementation, underlined the IMF spokesperson. Mr. Rice added that the reform agenda was ambitious and reported that there was good cooperation with the Greek government.

When asked whether the Fund agrees with the Eurozone position that the bank recapitalization must be linked to completing the first review, the spokesperson responded that the ECB will publicize its review of the capital needs of Greek banks at the end of the week. Mr. Rice suggested that the Fund supports the independence of the banks and that it does not desire the government’s involvement in the bank managements.

Furthermore, Mr. Rice stressed that the recapitalization of the banks, supporting their management and addressing the ‘red loans’ will encourage trust in the banking sector and the Greek economy in the midterm. When asked about the loans Greece has received from the IMF, the spokesperson stated that the IMF would welcome early repayment. After the first two bailout loans, Greece owes the IMF about 23 billion euros.

You may be interested

Greece & Australia both tangled in mining investment conundrums
GREECE
shares90 views
GREECE
shares90 views

Greece & Australia both tangled in mining investment conundrums

makis - Sep 22, 2017

An interesting article from Australia about mining activities there and the similarities with our case: Every time I read an…

The Albanian “velvet ethnic cleansing” of the Greeks of Northern Epirus at the OSCE
WORLD
shares84 views
WORLD
shares84 views

The Albanian “velvet ethnic cleansing” of the Greeks of Northern Epirus at the OSCE

makis - Sep 22, 2017

The “National Association of Northern Epirus 1914” participated for the third consecutive year at the Annual Conference of the Office…

Dimitris Giannakopoulos for PAO: I cannot do anything else for club
GREECE
shares84 views
GREECE
shares84 views

Dimitris Giannakopoulos for PAO: I cannot do anything else for club

makis - Sep 22, 2017

The fate of the football club of Panathinaikos is hanging in the balance, after major shareholder of the basketball team…

Leave a Comment

Your email address will not be published.