IMF Meets on May 30 to Decide on Next Tranche



imfThe managing board of the International Monetary Fund will meet on May 30 to discuss on the fifth evaluation of the Greek program and to approve the disbursement of the next tranche of the rescue package to Greece.

Poul Thomsen, the head of the IMF’s Greek missiongave his report to the members of the fund’s board who will decide on the release of the next tranche.

During a press conference, IMF spokesman Gerry Rice noted that IMF’s view on the Greek debt remain unchanged and claimed that the Greek debt is expected to remain at “high levels”. He pointed out that Greece’s European partners have agreed to proceed with a restructuring of the debt, provided that Greece will remain “fully aligned with its commitments in the program”. Rice noted that the Europeans announced that discussions on the Greek debt will start in the second half of 2014.

Rice said that IMF’s technical team will be in Greece in June or July while the fund’s higher officials will arrive after summer. However the exact date hasn’t been decided yet.

Greece’s next aid package is estimated at 8.3 billion euros ($11.4 billion). As reported the eurozone will approve a tranche of 8.3 billion euros and the IMF 3.6 billion euros.