Finance Issues, Labor Reforms, Settling NPLs Discussed During First Round of Talks With Institutions; New Round Starts November 14



Greek-European-FlagsOn Thursday, the government concluded the first round of negotiations with the institutions on the second program review, Finance Minister Euclid Tsakalotos said on Thursday, adding the heads of the institutions will return on November 14.

According to a senior government official, the two sides discussed finance issues of the Justice ministry, the out-of-court settlement of non-performing loans and fiscal data.

Concerning fiscal data, talks centered on how to close the 2016 budget with target-exceeding revenues, as well as the 2017 budget. The same official expressed certainty that the primary surplus this year will exceed the target of 0.5 percent of GDP.

He also said that substantial progress has been achieved on labor reforms, fiscal issues and the minimum guaranteed income, while great progress has been achieved on all other issues.

The official also denied statements made by the IMF’s spokesman earlier today who said that parallel negotiations are underway in Athens, noting that the IMF is negotiating along with the other institutions and has not stated its own conditions on the Memorandum of Economic and Financial Policies (MEFP) Greece will have to sign if the Fund returns to the program.

Source: ANA-MPA