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Greece fully repaid its dept to IMF, says Finance Minister

Greece completed its repayment of its International Monetary Fund (IMF) debt on Monday, Greek Finance Minister Christos Staikouras announced. The dept of 7.9 billion euros in total was repaid two years earlier. the repayment started in December 2019 and the last installment of 1.86 billion was paid on Monday, state …

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IMF: Greece to return to primary surpluses as of 2022

Greece is expected to return to primary surpluses as of the 2022 budget, the Internationla Monetary Fun d(IMF) said in its fiscal monitor report published on Wednesday. The report has registered high fiscal deficits of the general government in the entire world for 2020, especially in developed economies (up to …

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ESM approves Greece’s early loan repayment of €3.3billion to IMF

The European Stability Mechanism (ESM) gave the “green light” for the second early repayment of a Greek loan to the International Monetary Fund, worth around 3.3 billion euros. In an announcement, ESM said that the Boards of Directors of the European Stability Mechanism (ESM) and European Financial Stability Facility (EFSF) …

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IMF on Greece: Weak recovery in 2021, unemployment 20%, primary surpluses from 2022

Greece will return to primary surpluses from 2022 after reporting higher primary deficits and public debts in 2020, the International Monetary Fund said its Fiscal Monitor report released on Wednesday. The IMF based its 2020 forecasts on the belief that political interventions to manage the pandemic have led to a …

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IMF office in Athens will close, Greek PM Mitsotakis announces

Prime Minister Kyriakos Mitsotakis announced on Tuesday evening that the office of the International Monetary Fund (IMF) in Athens will close. He did not specify when the IMF office will close, though. Mitsotakis’ announcement followed a meeting with the IMF its managing director, Kristalina Georgieva, in Washington, on Tuesday. Government …

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Greece concludes early repayment of IMF loans, says Finance Ministry

Greece concluded the early repayment of expensive loans from the International Monetary Fund, the country’s finance ministry said on Monday. The move allows Athens to reduce its debt-servicing costs, because IMF loans carry higher interest than Greece would now pay in the market. “The part of the loans that was …

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IMF report: Greece made progress, just remain on reforms path

One of the same: Greece has made steps towards creating a more competitive and dynamic economy, the International Monetary Fund (IMF) said in a report published on Friday. However, the country “should remain on the road of reforms, to preserve a general fiscal balance and the restructuring of the banking …

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ESM and EFSF approve Greece’s request for early IMF repayment

The European Stability Mechanism and the European financial Stability Facility approved the Greek request for partial early repayment of the International Monetary Fund. The EMS issued a statement on Monday: The Boards of Directors of the European Stability Mechanism (ESM) and European Financial Stability Facility (EFSF) agreed today to waive …

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IMF’s Thomsen “suffers from short-time memory loss,” says Tsakalotos

Head of IMF’s Europe department “Poul Thomsen suffers from short-time memory loss,” said Syriza MP and former finance Minister Euclid Tsakalotos. He was commenting on Thomsen’s claims that the Greek government agreed to high primary surpluses targets during the negotiations in the first half of 2015. Greeks accepted the high …

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IMF report on Greece: Lower Primary Surpluses and …Wages

The staff of International Monetary Fund (IMF) has published the preliminary findings after paying a visit to Greece in the context of the 4. post bailout program enhanced surveillance review. Stressing that “The views expressed in the staff report and do not necessarily represent the views of the IMF’s Executive …

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Greece officially launches process for early IMF repayment

Greece has officially launched the process for the early repayment of the loan to the International Monetary Fund (IMF). On Monday Finance Minister Christos Staikouras signed the letters to be sent to the European Stability Mechanism (ESM) and the Eurogroup, presenting Greece’s plan for an early repayment of part of …

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ESM opens way for discussion to reduce primary surplus in 2020

Head of the European Stability Mechanism (ESM), Claus Regling, has paved the way for reduction of the primary surplus and welcomed Greece’s intention to repay the IMF loan earlier than planned. Following the Eurogroup meeting on Friday, Regling said that if the growth rates of the Greek economy were higher …

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IMF: High primary surplus targets a “drag” for Greece’s economic recovery

The International Monetary Fund (IMF) agrees with the opinion expressed by Christine Lagarde in the European Parliament concerning the need to review the high primary surplus targets for Greece, IMF spokesperson Gerry Rice said on Thursday. This view reflects the IMF’s standing position on this issue in recent years, he …

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Greece to submit request for early IMF loan repayment on Sept 13

Greece’s finance minister will submit an official request to his eurozone peers this week for the early repayment of the International Monetary Fund (IMF). This was revealed by Prime Minister, Kyriakos Mitsotakis, during a press conference on Sunday. “The relevant request will be submitted by the finance minister to the …

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EU has chosen Bulgarian Kristalina Georgieva to run the IMF

The European Union has nominated World Bank Chief Executive Officer Kristalina Georgieva as the candidate to replace Christine Lagarde as the Managing Director of the International Monetary Fund. Congratulations @KGeorgieva for being selected as European candidate to lead the IMF. In the face on rising global tensions, it is imperative …

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Tsakalotos on IMF candidacy: “My hands are tied”

Former finance minister and high-ranking member of left-wing SYRIZa, Euclid Tsakalotos, commented on media reports that his name was on the list of those to potentially replace Christine Lagarde as Managing Director at the International Monetary Fund. In a post on Facebook, Tsakalotos wrote that he had to consult the …

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Tsakalotos among candidates to replace Lagarde at IMF

A leftist economist in the chair of the International Monetary Fund that surpresses and rains the poor and imposes strict austerity measures? Former SYRIZA finance minister Euclid Tsakalotos is listed among the candidates to replace Christine Lagarde as Managing Director at the International Monetary Fund. As Lagarde is to leave …

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