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Tag Archives: IMF

Pension cuts: IMF refers Greece to its “European partners”

The International Monetary Fund referred  Greece to Brussels, when Finance Minister Euclid Tsakalotos presented the government’s arguments that cutting pensions was not a structural measure. During the meeting with IMF’s Managing Director Christine Lagarde and the head of the Fund’s European department Poul Thomsen in Bali, Tsakalotos argued that there …

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Creditors’ statement following first post-bailout mission to Greece

Staff from the European Commission, in liaison with staff from the European Central Bank and the International Monetary Fund, visited Athens from 10 to 14 September for the first post-programme mission to Greece. Staff from the European Stability Mechanism participated in the meetings in the context of its Early Warning …

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What will happen if Greece abolishes the pension cuts despite creditors objections?

Greece insists that the austerity measure to further pension cuts as of 1. January 2019 is not necessary. Creditors try to avoid commenting on that, although the usual “Euro Sources Anonymous” claim that the euro finance ministers are against abolishing of the measure. “Greece’s budget 2019 will not include pension …

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Speculation Turkey may seek IMF bailout, impose capital controls

Speculation is high that Turkey may seek a bailout from the International Monetary Fund and possibly also impose capital controls after the Turkish Lira lose big towards the US dollar. Recent fluctuations in foreign exchange markets, which cannot be explained on economic grounds, will ease sooner or later, ruling Justice …

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IMF: “Progress but action needed”… Ops! and “condolence” to Greece’s fire tragedy

IMF Greece’s report published on 31. July 2018: With the wildfires tragedy since last week we forgot that we have other issues that are pressing, like Greece’s commitments to the lenders. But a creditor is a cool-headed technocrat who does not get impressed by 92 dead people killed within a …

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IMF officials in Athens to record performance of Greece’s economyt

Technical staff of the International Monetary Fund has arrived in Athens and will meet with Greek officials on Tuesday. The IMF officials will record the performance of the Greek economy and the government intentions after the end of the bailout agreements, amna reports. Citing sources, the state-run news agency notes …

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Germany hints IMF can stay out of Greece’s bailout, as EZ and Fund seek last minute deal

Germany has hinted the International Monetary Fund can stay out of financing the third bailout for Greece as Berlin vehemently rejects debt relief. At the same time, Euro-zone  policy-makers will seek last-minute backing this week from the International Monetary Fund for their debt-relief offer to Greece, to ensure it is …

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IMF calls for an agreement on Greece’s debt by next week

The International Monetary Fund (IMF) needs to reach an agreement with Greece and its European creditors by next week to ensure that the fund has enough time to give money to the embattled nation. Speaking to CNBC Tuesday, Poul Thomsen, the IMF director for Europe, said that there needs to …

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IMF-WB meetings rule out extension of Greek program, says Moscovici

The IMF and World Bank Spring Meeting have put an end to speculation about a possible extension of Greece’s third financial assistance programme, European Commissioner for Economic and Financial Affairs Pierre Moscovici said on Tuesday in an interview with Agence Europe. The French Commissioner said he was in favor of …

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PM Tsipras: “Not the end of the world if IMF doesn’t participate in Greek program”

“It is not the end of the world if the International Monetary Fund will not take part in the Greek program, Prime Minister Alexis Tsipras said on Monday. “Greece is at the end of a difficult course,”Tsipras said addressing the parliamentary group of SYRIZA. He added that the government will …

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“Debt relief for Greece could be finalized soon,” says Eurogroup chief Centeno

Greece and its creditors appear to be one step closer to reaching a final agreement on the restructuring of the country’s huge debt pile, according to Eurogroup President Mario Centeno. In an interview with CNBC, Centeno said  that although there are still a “few issues” regarding Greece’s public debt, European …

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