BUSINESS

German FinMin confident IMF will grant bailout tranche to Greece this year

TAGS: Economy

German Finance Minister Wolfgang Schaeuble on Tuesday expressed his confidence that the International Monetary Fund would proceed with the disbursement of a bailout tranche to Greece within the year. His comments came after an Ecofin meeting in Luxembourg on Tuesday, a day after eurozone finance ministers gave Greece a positive review with regard to the country’s ongoing reforms, but withheld a portion of the next tranche of bailout funding.

On Tuesday, Schaeuble noted that Monday’s agreement did not require the approval of Germany’s Bundestag, given that there were no major changes to the deal following Greece’s signing of a third bailout program with its partners and creditors last year.

The German minister also noted that Greece had to complete the process of appointing a board to its privatization fund, echoing a similar request by the Eurogroup.

Meanwhile, following a decision by Greece's Finance Minister Euclid Tsakalotos, a five-member supervisory board for the fund was announced in the Government Gazette on Tuesday.

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