It is possible for Greece’s pending prior actions to be completed before the Eurogroup on October 10, a senior Eurozone official told journalists on Friday. The official noted that it is necessary to conclude the two actions pending by Wednesday when the International Monetary Fund (IMF) and the World Bank will hold their annual meeting in Washington DC.
He said that the representatives of the institutions need time to complete the progress report and if all this is done, the EuroWorking Group will be called on Monday morning before the Eurogroup to propose the approval of the disbursement of the 2.8-billion-euro loan sub-tranche.
“Considering the assurances from the Greek side for the completion of the prior actions, I’m optimistic that the EWG will meet on Monday and the Eurogroup will decide the disbursement of the sub-tranche,” the official said, adding that finance ministers will be briefed at the next Eurogroup about the course of repayment of government arrears which, he said, “data so far suggest it is going well and according to plan”. Asked about debt relief for Greece, the official said that institutions and member-states are in talks on the short-term measures and the discussion is focusing on the technical difficulties.
When asked about the participation of the IMF in the Greek program, he said that it will not be discussed in the upcoming Eurogroup as it is directly connected to the completion of the second program review, which hasn’t even started. If finance ministers confirm the completion of the first evaluation next Monday, representatives of the institutions will go to Athens next week after the Eurogroup to begin discussions for the second review.