BUSINESS

IMF using old data for Greek banks capital requirements, sources say

The International Monetary Fund is considering financial data from two years ago with regard to its estimation for the capital requirements of Greek lenders, local sources have told Skai.

In a report published in the Financial Times on Monday, the IMF had reportedly set the needs of local banks to 20 billion euros, as opposed to the 5.5 billion euros estimated by the Bank of Greece and independent consultants.

According to the sources, both the European Union and the European Central Bank - which along with the IMF form the so-called troika - agreed with the Bank of Greece’s estimate which was based on a BlackRock report due to be released in early March.

Meanwhile, government officials and troika representatives on Tuesday continued a fresh round of negotiations in Athens in an effort to reach an agreement on the reforms that Greece must implement in exchange for further rescue funding.

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