The International Monetary Fund said Thursday it was awaiting the results of Greece's sovereign debt buyback before it would approve a revised rescue program. Greece announced Wednesday it would launch the bond buyback program with its creditors, the IMF and the European Union, early next week, in an effort to reduce its debt payment burden. The buyback program, set to wind up by December 13, is part of a revised bailout program agreed by the IMF and eurozone finance ministers in Brussels on Tuesday. Under the terms of the deal, the IMF and the eurozone agreed to release 43.7 billion euros ($56.7 billion) in four installments from December to March to enable Greece to avoid bankruptcy. "We will be looking for implementation of the buyback operation and contingent on that implementation and the success of the buyback program we'll be in a position to put forward the recommendation to our board," IMF spokesman Gerry Rice said at a regularly scheduled news briefing. Rice said there was no date set for the board meeting. "If this agreement is implemented as described, then it's the basis for going forward," Rice said.
GMT 12:09 2018 Monday ,26 November
Black Friday less wild as more Americans turn to online dealsGMT 15:07 2018 Sunday ,18 November
Refugee host countries discuss UNRWA's financial crisisGMT 17:22 2018 Wednesday ,31 October
Russia climbed to 31st place in Doing Business-2019 ratingGMT 16:53 2018 Wednesday ,17 October
"Putin" We need for collective restoration of Syria's economyGMT 14:02 2018 Friday ,12 October
Govt to announce incentives package for Overseas PakistanisGMT 18:26 2018 Saturday ,06 October
Dubai attracts Dh17.7 billion in foreign direct investmentGMT 09:02 2018 Friday ,21 September
Economy of Georgia demonstrates "strong signs of recovery"GMT 09:03 2018 Wednesday ,24 January
German investor confidence surges in JanuaryMaintained 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