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> Economy

Greek delegation leaves for crucial annual IMF meeting in Washington

All parties expect IMF to clarify position on Greek program

Newsroom October 5 10:18

The Greek on economic matters, headed by Finance Minister Euclid Tsakalotos is expected to depart for the annual IMF meeting in Washington, Wednesday. The highly anticipated conference, which will also be attended by all Eurozone Ministers, is expected to clarify the stance of the Fund on the Greek bailout program. The European delegations are expected to meet with IMF director Christine Lagarde in an effort to receive a clear message on whether the Fund intends to continue being a part of the Greek program in 2016. However, it is becoming increasingly apparent that any decisions by the Fund on its role in the Greek program and the possibility of a debt restructuring will be put off until after the German elections in 2017 or 2018. According to newspaper ‘Ta Nea’, the Washington meeting will provide all the key players -IMF, ECB, and the EU- the opportunity to discuss pressing matters concerning the Greek issue, including whether ECB head Mario Draghi will accept Greek bonds in the central bank’s quantitative easing program, if the IMF will stay on board the Greek program and in what capacity, and whether the EU will specify any medium-term measures to alleviate the Greek debt, as the IMF is pressing for.     

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