Saturday March 28, 2015 Search
Weather | Athens
14o C
09o 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)  
Fitch downgrades Greece amid bailout uncertainty
Bank accounts continue to bleed
Hania and Athens are the top picks for Easter visitors
Landlords to pay tax on unpaid rent
Defense minister Kammenos sues commentator for 1 mln euros
Defense Minister Panos Kammenos has sued commentator Andreas Petroulakis for 1 million euros in damages over a critical article posted on the Protagon website on March 17. In a statement pos...
Reform talks move to Brussels
The Brussels Group, technical teams from Greece and its lenders, is on Saturday due to begin discussing the details of Athens reform proposals, which were completed Friday and will determine...
Inside News
BASKETBALL
Greens live dangerously in Istanbul
Panathinaikos played with fire in Istanbul, but still managed to beat Galatasaray 86-84 on Friday and climb to the third sport of its group two games before the end of the Euroleague top-16....
SOCCER
Greek federation backs injured Holebas
The Greek soccer federation on Friday insisted that international defender Jose Holebas had been dropped from team training in Austria because of injury and not for any other reason. Media r...
Inside Sports
COMMENTARY
Time to get moving
More than two months have passed since the elections and the government has to stop running around in circles and adopt a program of specific reforms, with detailed calculations as to their ...
EDITORIAL
The same old story
One of those infamously bad practices that the political system has been accused of for years is being propagated by the new government today, as it is appointing party cadres and politician...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
RECENT NEWS
1. Fitch downgrades Greece amid bailout uncertainty
2. Greens live dangerously in Istanbul
3. Bank accounts continue to bleed
4. Hania and Athens are the top picks for Easter visitors
5. Landlords to pay tax on unpaid rent
6. Air arrivals grow 20 pct in Jan-Feb 2015
more news
Today
This Week
1. Fitch downgrades Greece amid bailout uncertainty
2. Greek future as trade hub in limbo amid Syriza split on railways
3. Greek gov't denies finance minister Varoufakis to resign [Update]
4. Bundesbank's Weidmann says euro zone debt in 'danger zone,' opposes more aid for Greece
5. New Democracy's political council convenes to decide line opposite gov't
6. Clocks go forward one hour on Sunday
Today
This Week
1. Next Monday is D-Day for state funds
2. EU asks Greece for more reforms to speed talks on bailout
3. PM faces Merkel amid race to detail reforms
4. Some more equal than others
5. Greece to present reforms by Monday, says gov't spokesman [Update]
6. Looking at the Chinese model
Find us ...
... on
Twitter
... on Facebook
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright 2015, H KAΘHMEPINH All Rights Reserved.