IMF approved the disbursement of the tranche for Greece
IMF approved the disbursement of the tranche for Greece
The Brazilian representative abstained from the voting
During it’s meeting today the IMF board approved the tranche of 1.72 billion euros for Greece.
According to the announcement, the Fund completed today its fourth review of Greece's performance. The head of the Fund’s team in Greece, Paul Thomsen, had informed IMF members prior to the meeting and the disbursement of the tranche will be made on Wednesday.
According to information, the representatives of some countries criticized the mission of the Fund in Greece, as the representative of Brazil who said that the Greek program is problematic.
Among other things, Thomsen said that Greece has managed to make progress toward the completion of its fiscal adjustment and is on track to achieve its fiscal targets, but still has many things it needs to do.
According to the announcement, the Fund completed today its fourth review of Greece's performance. The head of the Fund’s team in Greece, Paul Thomsen, had informed IMF members prior to the meeting and the disbursement of the tranche will be made on Wednesday.
According to information, the representatives of some countries criticized the mission of the Fund in Greece, as the representative of Brazil who said that the Greek program is problematic.
Among other things, Thomsen said that Greece has managed to make progress toward the completion of its fiscal adjustment and is on track to achieve its fiscal targets, but still has many things it needs to do.
The return to growth is expected in 2014 and Greece will need to continue its reform efforts to restore its competitiveness.
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