The IMF is expected to resume its participate in the Greek program as a lender, and to the tune of five billion euros, according to a Der Spiegel dispatch on Friday. The German media outlet attributed the reports to sources close to creditors.
According to a preview of an article set for publication on Saturday, the IMF reportedly now shares the view by European creditors, namely, that Greece must achieve primary budget surplus targets of 3.5 percent of GDP after 2018.
The German mass circulation magazine and media giant reminds that the IMF’s participation the again sputtering Greek bailout was far from certain over the previous period.
Nevertheless, the purported IMF participation with five billion euros would be far lower than the expected 16 billion euros “budgeted” by European creditors.
Meanwhile, in another related development out of Germany, a spokeswoman for the finance ministry said there is not enough progress currently to expect an agreement at Monday’s Eurogroup meeting in Brussels.
The Feb. 20 Eurogroup session was the previous “unofficial deadline” for achieving a deal between Athens and creditors to conclude the second review of the Greek program, going as far back as early January 2017. As such, the next unofficial deadline gets bumped back to subsequent Eurogroup meetings.
“There is a convergence (in positions), but we’re not that close, at the technical level, in order to reach a decision for a conclusion to the review,” the spokeswoman said.
She also reiterated that Berlin believes the IMF’s participation in the Greek program is necessary.
