IMF: Discussion on Greek debt relief will start at the latter half of 2014
IMF: Discussion on Greek debt relief will start at the latter half of 2014
The IMF Executive Board will convene in mid-May in order to approve the fifth review of the Extended Fund Facility (EFF) arrangement for Greece and the disbursement of the second tranche (estimnated at 3.4 billion euros) as the Fund's chief press officer Gerry Rice stated
Speaking at his daily press briefing, Rice added that the discussion for the Greek debt will take place in the latter half of 2014, thus confirming a similar statement offered by a European Commission spokesman.
Mr. Rice welcomed Greece's progress, especially after Wednesday's validation of its 2013 primary budget surplus by Eurostat and Greece's recent return to the bond markets. He noted, though, that there are still “significant challenges” ahead facing Greece.
When asked whether Greek debt is sustainable, Mr. Rice said that the debt is at “high levels” and that data has not changed on the subject.
He suggested that the future sixth review of the EFF arrangement for Greece will be the one to determine any “added funding”, by the beginning of 2016.
Mr. Rice welcomed Greece's progress, especially after Wednesday's validation of its 2013 primary budget surplus by Eurostat and Greece's recent return to the bond markets. He noted, though, that there are still “significant challenges” ahead facing Greece.
When asked whether Greek debt is sustainable, Mr. Rice said that the debt is at “high levels” and that data has not changed on the subject.
He suggested that the future sixth review of the EFF arrangement for Greece will be the one to determine any “added funding”, by the beginning of 2016.
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