Tuesday September 16, 2014 Search
Weather | Athens
28o C
21o 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)  
Tripoli´s military airport in Peloponnese to be opened to passenger traffic
Pension review has saved state 42 mln euros, alternate finance minister says
ECB´s Liikanen says bank ready to take more action if necessary
Job creation is mostly seasonal
Athens promised 27-km cycle lane by end of 2015
A bicycle lane spanning 27 kilometers from the northern suburb of Kifissia to Faliro in southern Athens will be ready by the end of 2015, Environment Minister Yiannis Maniatis announced on T...
Pensions of 60 Greeks halted after they refuse to give AMKA numbers
Sixty Greeks have had their pensions stopped because they refused to provide their social security numbers (AMKA) to inspectors for religious reasons, Labor Minister Yiannis Vroutsis has rev...
Inside News
SOCCER
Olympiakos, Atletico gear up for Champions League opener
A rousing 2-1 La Liga victory at Real Madrid on Saturday may suggest otherwise, but Atletico Madrid is still rebuilding after losing several key players in the close season, coach Diego Sime...
WATER POLO
Greece wins women´s U19 Europeans in water polo
Greece won the women’s European Under-19 Championship in Italy beating the host in Sunday’s final, for what was the country’s second gold medal in the competition’s history. The Greek teenag...
Inside Sports
FOCUS
Democracy´s many guises and challenges
The wilting Arab Spring, conflict in Ukraine, slaughter in Iraq and Syria, citizens not trusting their governments and Europeans losing their enthusiasm for the Union – most places you look ...
COMMENTARY
Lessons not learned
One year since the assassination of rapper Pavlos Fyssas by a member of Golden Dawn in Keratsini, southwestern Athens, we now know a lot more about the activity of the neo-Nazi party’s hit s...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
 RECENT NEWS
1. Athens promised 27-km cycle lane by end of 2015
2. Pensions of 60 Greeks halted after they refuse to give AMKA numbers
3. Drama hospice employee embezzled 170,000 euros from facility
4. Parents detained after trying to take child after losing custody
5. Police launch probe into ‘racist’ attack on Greek Armenian
6. Court rules PAO shouldn´t get 7 mln euros for stadium revamp
more news
Today
This Week
1. Greece at bottom of social justice scale among EU28
2. Lessons not learned
3. Promises, promises
4. Golden Dawn candidate found guilty of inciting racist violence
5. Thessaloniki woman arrested for cashing in dead aunt's pension
6. PM to inaugurate new surgery wing at Evangelismos Hospital
Today
This Week
1. A Greek God
2. Greece on standby
3. Avramopoulos appointed Commissioner for Migration and Home Affairs
4. Central Athens traffic restrictions back in force on Monday
5. Pavlos Fyssas murder trial expected to start before the end of the year
6. EU bank tests may miss trillion dollar risk, study finds
   Find us ...
  ... on
Twitter
     ... on Facebook   
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright © 2014, H KAΘHMEPINH All Rights Reserved.