Reuters: Slow rate of privatizations in Greece risks delays in return of bond profits
Reuters on Tuesday reported that Athens risks missing out on the first tranche of returned ECB profits generated from Greek bond it and other Eurozone central banks possess, citing delays in the pace of creditor-mandated privatizations, and despite what sources said was an “over-performance” in terms of meeting annual fiscal targets.
Reuters reminded that roughly 4.8 billion euros of profits from Greek bonds have been earmarked for return to Athens by June, 2022, part of a debt relief package agreed to between Eurozone creditors and Athens last summer.
“Linking the so-called ANFA and SMP profit returns to Greece’s post bailout performance was seen as an incentive for Athens to remain committed on hard-won reforms adopted under three bailouts worth more than 280 billion euros,” Reuters reports, while quoting a source as saying that “… The Commission in its enhanced surveillance report that will be published in the coming days will refer negatively to the country’s performance on reforms such as privatizations … That might delay the first payment of ANFA and SMP profits by a few months.”
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