Saturday August 2, 2014 Search
Weather | Athens
31o C
24o C
News
Business
Comment
Life
Sports
Community
Survival Guide
Greek Edition
IMF set to release 3.5 bln euros for Greece in late May, says Rice

The International Monetary Fund is poised to release about 3.5 billion euros ($4.8 billion) in bailout funds to Greece in late May, an IMF spokesman said Thursday.

The IMF executive board, representing the global crisis lender's 188 member states, will meet on May 30 to discuss the disbursement, spokesman Gerry Rice said.

The board is expected to give the go-ahead for 3.5 billion euros following approval of the fifth review of Greeces performance under the 2012 international bailout program, which required unpopular austerity reforms to help restore public finances and deal with enormous public debt.

According to the initial timetable, the IMF was due to disburse 1.7 billion euros in late May 2013 but negotiations were held up by Athens's failure to meet the aid program's requirements.

The upcoming disbursement is twice as much given the delay in reaching agreement on the review between the IMF and its bailout partners, the European Union's executive, the European Commission, and the European Central Bank, Rice said.

The next IMF review of Greek accounts is scheduled for July.

The so-called troika of international lenders provided Greece with a 110-billion-euro bailout in 2010, which two years later was refashioned into a 130 billion euro package after the first rescue plan failed.

The IMF spokesman refused to comment on a recent report by the Financial Times that the IMF, the European Commission and the ECB had worked secretly in 2012 on a Plan Z on how to reconstruct Greeces economic and financial infrastructure if it were to exit the eurozone.

"It's our job to draw up various economic scenarios so that we can provide better advice to our member countries, Rice said. We look at risks. That's part of our job."

[AFP]

ekathimerini.com , Thursday May 22, 2014 (19:48)  
Greek PMI drops to nine-month low in July
Property tax surplus may lead to more installments or cuts
Athens-Patra in just two hours
Plans to tackle Russian crisis
Libya evacuees set to reach Piraeus on Saturday
A Greek frigate carrying 186 people evacuated from conflict-ridden Libya is expected to reach the port of Piraeus early Saturday, the Greek Defense Ministry said. The evacuation operation to...
Coast guard seeks boost in Aegean
Efforts to boost the number of coast guard officers serving on Aegean islands where authorities have to deal with large numbers of undocumented migrants who are smuggled by traffickers from ...
Inside News
SOCCER
One win and one loss in Europa League
Greece had a hit and a miss in the first-leg games for the third qualifying round of the Europa League on Thursday, as Atromitos scored a 2-1 win at Sarajevo while Asteras Tripolis lost 1-0 ...
SOCCER
Goalless draw at Liege puts Greens in driving seat
Panathinaikos got the upper hand in the battle for entry to the Champions League playoffs after snatching a goalless draw at Standard Liege on Wednesday. If anything, the Greek cup holders m...
Inside Sports
COMMENTARY
In trying to conquer, Putin unites Europe
President Vladimir Putin is obliged to feign indifference to the sanctions that the European Union and the United States imposed on Russia this week. But, being the player that he is, he mus...
EDITORIAL
Our own worst enemies
A new study has come to exemplify the cliche notion that Greeks find it easier to excel abroad, where they fare much better than they do at home. According to research by epidemiologist John...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
RECENT NEWS
1. Greek PMI drops to nine-month low in July
2. Property tax surplus may lead to more installments or cuts
3. Athens-Patra in just two hours
4. Plans to tackle Russian crisis
5. Fifth straight day of losses on Greek bourse
6. Libya evacuees set to reach Piraeus on Saturday
more news
Today
This Week
1. Greece evacuates embassy staff, foreign nationals from Libya
2. Greek exporters worried about impact of Russia sanctions
3. Britons stranded at sea off Zakynthos towed to safety
4. Greek bond yields dip as investors anticipate ratings upgrade
5. Human rights watchdog criticizes decision to file Farmakonisi case
6. Jean-Claude Juncker to make first official visit to Athens on Monday
Today
This Week
1. Wine cup used by Pericles found in grave north of Athens
2. Defense Minister Avramopoulos to represent Greece at European Commission
3. Worlds largest solar boat on Greek mission
4. What lessons can we draw from antiquity?
5. Greece names fifth privatization agency chief in four years
6. Greek coast guard picks up 77 migrants off Myconos
Find us ...
... on
Twitter
... on Facebook
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright 2014, H KAΘHMEPINH All Rights Reserved.