ECONOMY

Troika worried about sell-off halt

The decision by the state privatization fund (TAIPED) to freeze the sell-off program due to the political uncertainty ahead of another round of elections next month has provoked the displeasure of the representatives of the country?s international creditors in Athens.

TAIPED?s board decided on Tuesday to suspend the program until a new government is elected, but the mission from the European Commission, the European Central Bank and the International Monetary Fund — known collectively as the troika — suggested that this is compromising yet one more structural reform effort in this country.

TAIPED said in a statement that ?the observers appointed by the European Central Bank and the eurozone expressed their concern about the board?s decision.? Fund officials added that at least three months have been lost in the timetable for the application of the privatization program, which is crucial in the effort to boost state revenues, as they also include March and April in the election period. They add that the 3 billion euros target for sell-off revenues is no longer feasible.