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

30 October 2015
65 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

Fishermen catch 300kg shark!
GREECE
shares66 views
GREECE
shares66 views

Fishermen catch 300kg shark!

makis - Jul 27, 2017

The customers of a local fishmonger in the city of Agrinio in central Greece could not believe their eyes when…

Mitsotakis: “Tsipras’s arrogance and opportunism cost Greeks dearly”
POLITICS
shares74 views
POLITICS
shares74 views

Mitsotakis: “Tsipras’s arrogance and opportunism cost Greeks dearly”

makis - Jul 27, 2017

The President of major Greek opposition party New Democracy (ND), Kyriakos Mitsotakis accused Greek PM Alexis Tsipras of being an…

Written statement by the President of Cyprus Nikos Anastasiades on Cyprus Problem
GREECE
shares60 views
GREECE
shares60 views

Written statement by the President of Cyprus Nikos Anastasiades on Cyprus Problem

makis - Jul 27, 2017

In response to an appeal by the UN Secretary General, whose constructive approach I deeply appreciate, and out of respect…

Leave a Comment

Your email address will not be published.