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Tag Archives: IMF

Greece formally requests early repayment of part of IMF loans

The Greek Finance Ministry sent to European Stability Mechanism (ESM) the government’s proposal for the early repayment of part of the loan Greece took from the International Monetary Fund (IMF). The official request were sent on Monday evening, financial ministry sources told state news agency amna. Greece wants to repay …

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IMF’s Lagarde positive on early loans repayment by Greece

Managing Director of International Monetary Fund Christine Lagarde is positive to the idea that Greece repays earlier part of its loans, state broadcaster ERT TV reported on Saturday following a meeting between Lagarde and Finance Minister Euclid Tsakalotos in Washington. the news comes just hours after reuters reported that Greece …

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“Greece is among the best performers in eurozone,” says IMF

Greece has entered a period of economic growth that puts it “among the best performers in the eurozone.” This rather striking judgement comes from the International Monetary Fund in a new report on the Greek economy. A senior IMF official said there were a lot of positive developments to point …

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IMF sees “rising risks” in Greece’s debt servicing capacity, insists on taxing the poor

The International Monetary Fund Executive Board concluded its first post-bailout program monitoring of Greece. The country’s debt servicing capacity is “adequate” the IMF report notes and cites “rising risks” especially from banks, benefits as well as court decisions about retroactively annulling pension cuts. Speaking to state broadcaster ERT TV, the …

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“Primary surpluses are too high,” says Moscovici, blames IMF, Greek gov’t

EU Commissioner, Pierre Moscovici, surprised Greeks when when he said that some of the primary surpluses demanded from the country were “too high.” The Commissioner for EU financial Affairs was addressing members of the Greek Parliament on Thursday when he said that some of the primary surpluses demanded from the …

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Tsakalotos says Greece plans to return to markets in 2019 to buy IMF or ECB debt

Greek Finance Minister Euclid Tsakalotos unfolded the government plans how to deal with red loans and how the country will return to the markets. In an interview with radio News24/7 on Tuesday, Tsakalotos said that Greece negotiated hard with the country’s lenders to secure a buffer of 25 billion euros …

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“IMF has no longer financial arrangement or program with Greece,” says Rice

The International Monetary “Fund has no longer a financial arrangement or program with Greece, so clearly the main interaction now is between EU partners and Athens,” the Fund’s spokesperson Jerry Rice said on Thursday. He added that the IMF continues to participate by providing assistance with surveillance. “In general, this …

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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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IMF revises upwards its growth estimations for Greece

The International Monetary Fund (IMF) has revised its growth projections for Greece in 2019. The IMF is more optimistic about  the growth pace and estimates upwards to 2.4%, from 1.8% in its April projections. It keeps unchanged its estimation for 2018 at 2%. This forecast is revised upwards by + …

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“Greece wants to repay loans to ECB and IMF before maturity,” Tsakalotos says

Greece wants to repay loans to the International Monetary Fund and the European Central Bank before they mature, Finance Minister Euclid Tsakalotos said on Tuesday. The aim is to reduce debt serving cost, he added. The ECB holds Greek debt worth around 12 billion euros with an average maturity of …

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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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