Search This Blog

Friday, February 1, 2013

GREECE: IMF to send mission to Greece in February


The International Monetary Fund will send a staff mission to Greece next month to assess the country's performance under an austerity program backed by an international rescue, an IMF spokesman said Thursday.

People walk by the National bank of Greece headquarters in Athens on December 11, 2012. The International Monetary Fund will send a staff mission to Greece next month to assess the country's performance under an austerity program backed by an international rescue, an IMF spokesman said Thursday. 

The IMF mission will begin discussions in Athens with Greek and European Union officials in late February, IMF spokesman Gerry Rice said at a news briefing.
Rice said the IMF mission was expected to wrap up "around mid-March."
The IMF unblocked a 3.2 billion euro ($4.3 billion) payment to Greece on January 16, lagging European Union aid disbursements amid concerns about Greece's lack of progress in structural reforms demanded under the bailout program.

Rice said it was too soon to speculate about another IMF installment of aid, since the latest disbursement was so recent.

"We should give some time now for implementation to take place," he said.
In mid-January Poul Thomsen, the IMF's mission chief for Greece, said that Greece would need additional help from its European partners as soon as next year to bring its huge debt under control.

"There is a gap according to our preliminary projections for 2015-2016" of up to "9.5 billion (euros)," he said.
Under IMF policy, the program needs to be fully financed for the 12 months ahead.
The EU and IMF have committed a total of 240 billion euros ($326 billion) in rescue loans to Greece since 2010, but with its economy entering a sixth year of recession it is still having trouble making budget ends meet.

Despite two EU-IMF bailouts as well as a private-sector debt cut, the continuing recession and deficits mean that Greece's debt mountain is set to continue to rise to 190 percent of output in 2014.

The IMF has been pressing Europe to do more to resolve the Greek debt crisis, after the Fund extended its Greek rescue loan to four years from three years and lowered the interest charged on it.

Google+


Category

1915 Armenian Genocide 21st-century Christian martyrs‎ africa al assad Al Qaeda albania anti-Morsi protests Apostles Arab Christian Arab-Orthodox Archimandrite Tikhon Shevkunov army Asia Australia bank BBC Belarusian Orthodox Church Bethlehem bible Bible movies bible translations bulgaria Bulgarian Orthodox Church Byzantine byzantine music C.I.A. Cairo China Christian Armenians christianity christians christmas Christmas Traditions Christmas tree church Conspiracy Constantinople coptic church copts cyprus daily news Documentary Easter economy Ecumenical Patriarch Ecumenical Patriarch Bartholomew I Ecumenical Patriarchate of Constantinople egypt egypt pope elder Elder Ephraim of Vatopaidi elder joseph of vatopaidi elder Paisios Elder Porphyrios english subtitles Epiphany europe food Fr Seraphim Rose france FREE books FREE Greetings Cards fyrmacedonia Georgian Orthodox Church germany greece greek greek food greek music Greek Orthodox Church Greek Orthodox Easter greek orthodoxy health and medicine Holy Fathers Holy Scripture Holy Tradition icon Internet Interview iran islam islamist israel Italy jerusalem Jesus Christ jews jihad killed libya mafia Middle East Miraculous Icon monastery money mother of god mount athos Mount Sinai Movie Trailers music muslim muslims news orthodox church Orthodox Church in America pakistan Palestine patristic tradition photo photos picture politics pope Prophecy protests quotes recipes religion romania romanian orthodox church Russia Russian Orthodox Church saint Saints science Shroud of Turin Son of God spy St Nicholas of Myra syria The Mount Athos Food Evolution theotokos travel turkey tv UK Ukraine Ukrainian Orthodox Church usa Vatican vatopaidi video war Watch FREE full movie world
Related Posts Plugin for WordPress, Blogger...