Monday , March 27 2023
Home / News / Economy / IMF: Participation in Greek Program only with program extension or new MoU

IMF: Participation in Greek Program only with program extension or new MoU

The increased pressure of Berlin and other Central European governments for the return of the IMF in the Greek program is directly related to the expansion of bailout terms but also a new bailout program.

According to financial news website, on the sidelines of the IMF general assembly last week in Washington, fund’s officers said while commenting on the conditions that would enable the IMF to return to the Greek program, that

the main condition for its participation is to ensure the repayment of the loan with which it will finance the Greek program. notes further that this is equivalent with the double commitment that the Eurozone will guarantee the repayment to IMF with an extension of the grace period for the repayment of the main loan and also ensures the fiscal conditions in Greece’s economy to allow this repayment.

The return of the IMF in Greek program with some new funding – no matter how small – will be accompanied by corresponding strict austerity conditions, namely the extension of the current (valid until 2018) Memorandum of Understanding or the agreement on a new bailout program – the fourth MoU.

Reading the Greek edition of, KTg understands that the “extension or new MoU” it’s rather the author’s interpretation that an IMF’s quote.

But if  the IMF returns to Greek program with funding it sounds logical that it will push for a new MoU.

PS What is the IMF? Part of the Greek banks system that used to give loans to political parties and media groups with “pure signatures” or “future elections” as collateral?

Check Also

Inflation, price hikes change Greeks’ coffee habits

Inflation and price rises have restricted that quintessential Greek pastime of spending time with friends …

One comment

  1. There’s the trick: play the good cop (IMF) bad cop (4th Reich) game to force another memorandum and another cycle of looting of people and assets. Once the 4th MoU is signed, the IMF will forget everything about debt relief and haircuts. Ridiculously obvious!