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 Greece's 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 Greece's 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."
GMT 11:02 2018 Tuesday ,11 December
ASE opens trading on lower noteGMT 15:40 2018 Monday ,10 December
Amman stock market closes trading at JD4.4 millionGMT 19:10 2018 Wednesday ,05 December
Index at Palestine stock market drops by less than one pointGMT 17:58 2018 Sunday ,25 November
Amman stock market wraps up trading at JD2.6 millionGMT 14:24 2018 Thursday ,22 November
Russia’s stock market demonstrates record-breaking figures in 2018GMT 11:45 2018 Tuesday ,20 November
Tokyo stocks close lower as tech issues weigh, Nissan tumblesGMT 15:08 2018 Monday ,19 November
Amman stock market wraps up trading at JD6.1 millionGMT 15:51 2018 Sunday ,18 November
U.S. stocks post weekly losses amid tech shares routMaintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©
Send your comments
Your comment as a visitor