Reply To:
Name - Reply Comment
Last Updated : 2024-04-26 20:44:00
AFP: The International Monetary Fund’s approval of a one-year US$1.8 billion loan for Greece was a “very positive signal for the markets,” the EU’s Commissioner for Economic and Monetary Affairs, Pierre Moscovici, told AFP yesterday.
“The decision taken by the IMF is very good news. It’s another positive indicator of the return of confidence by Greece’s international partners. And it’s a very positive signal for the markets,” Moscovici said after a deal between the IMF and Greece was reached late Thursday.
Under the terms of the deal, the IMF will not actually release any of the funds until the eurozone agrees on a debt relief plan, in what was seen as a highly unusual compromise step.
Moscovici said this would pave the way for more investments in Greece which would be good for its economy.
The approval in principle means the loan “will become effective only after the Fund receives specific and credible assurances from Greece’s European partners to ensure debt sustainability, and provided that Greece’s economic program remains on track,” the IMF said in a statement.
Nevertheless, “the IMF’s participation opens the way to a future pay-out, certainly less than the Europeans, but welcome nonetheless and helpful for the Greek economy,” Moscovici added. The Commissioner is scheduled to go to Athens on July 25 for talks with Greek Prime Minister Alexis Tsipras and his finance minister, Euclid Tsakalotos.
Add comment
Comments will be edited (grammar, spelling and slang) and authorized at the discretion of Daily Mirror online. The website also has the right not to publish selected comments.
Reply To:
Name - Reply Comment
US authorities are currently reviewing the manifest of every cargo aboard MV
On March 26, a couple arriving from Thailand was arrested with 88 live animal
According to villagers from Naula-Moragolla out of 105 families 80 can afford
Is the situation in Sri Lanka so grim that locals harbour hope that they coul