ECONOMY

IMF mission chief calls for Greek debt relief

IMF mission chief calls for Greek debt relief

Greece needs substantial debt relief, IMF Greece mission chief Delia Velculescu said Wednesday, adding that the country’s bailout fiscal targets are too ambitious.

Speaking at an Economist conference in Athens, the Romanian official described the new ESM program for Greece as a very important step which underscores the commitment of eurozone governments to keep the debt-hit nation in the bloc’s common currency zone.

Velculescu called on the leftist-led government of Alexis Tsipras to step up the implementation of agreed reforms, make changes to the country’s tax system and strengthen the fight on corruption.

However she stressed that in order to resume lending to Greece, the Washington-based Fund needs to make sure that Europe will offer substantial debt relief to Athens.

Conference Economy
READ MORE
Greek primary surplus target should be cut to 1.5-2 percent after 2018, says Houliarakis
ECONOMY

Greek primary surplus target should be cut to 1.5-2 percent after 2018, says Houliarakis

ESM chief urges Greek government to take ownership of adjustment program
ECONOMY

ESM chief urges Greek government to take ownership of adjustment program

Amcham postpones Athens event on social security issue
ECONOMY

Amcham postpones Athens event on social security issue

ECB set to reinstate Greek banks’ access to cheap funding
ECONOMY

ECB set to reinstate Greek banks’ access to cheap funding

Forthnet to issue bonds to refinance debt
ECONOMY

Forthnet to issue bonds to refinance debt

New airline ready for takeoff as Cyprus tourism soars
ECONOMY

New airline ready for takeoff as Cyprus tourism soars

Subscribe to our Newsletters

Enter your information below to receive our weekly newsletters with the latest insights, opinion pieces and current events straight to your inbox.

By signing up you are agreeing to our Terms of Service and Privacy Policy.