ATHENS: Greece received a vote of confidence from international creditors over progress in overhauling its stricken economy — and a fresh injection of cash from the International Monetary Fund.
In Washington, the IMF announced it had released ¤1.74bn ($2.26bn) in fresh funds after Greece passed a third performance review — part of the terms of the joint IMF-EU bailout.
IMF chief Christine Lagarde praised Greek efforts to meet their commitments.
“The Greek authorities have made commendable progress in reducing fiscal and external imbalances and in restoring competitiveness,” she said in a statement.
“The authorities remain committed to make rapid progress on productivity-enhancing structural reforms and on tax and public administration reforms.
“Greece is well under way to complete its ambitious fiscal adjustment plan, and is on track to meet its 2013 fiscal targets,” she added.
Earlier on Friday in Athens, Jeroen Dijsselbloem, head of eurozone finance ministers, told reporters that the group could discuss further debt relief for Greece next year if the government stayed on track with its recovery programme.
“This is a matter to be discussed if necessary in April 2014 under the conditions,” the Eurogroup chief told reporters at a joint press conference with Greek Finance Minister Yannis Stournaras. The European Financial Stability Facility meanwhile released another aid instalment, worth ¤7.2bn, to help recapitalise Greece’s stricken banks.
AFP
