The short-term measures on debt relief for Greece will be implemented immediately and are more ambitious than initially expected, Finance Minister Euclid Tsakalotos said on Monday after the end of the Eurogroup meeting in Brussels.
“Everyone confirmed that important progress has been made,” the minister said, adding that the other positive result concerns the fact that the short-term measures for debt relief will start being implemented now. Tsakalotos also noted ESM’s Klaus Regling comment that the debt measures will have a 20 percent impact on the debt to GDP ratio by 2060. “This is very good and will start helping the Greek economy immediately.”
“Talks for the achievement of a staff-level agreement will continue. The framework in which they will continue is that Greece is returning to growth, as we have positive growth rates in the second trimester and we expect the same in the third. With this we expect we will have an overall positive effect,” he said.
Commenting on the second program review, Tsakalotos said progress is being made, as the 2017 budget is closed and Greece and the institutions are very close to an agreement on the fiscal gap for 2018. In this framework, it is important that the institutions and the IMF ensure that this progress is not be compromised due to increased uncertainty, he added.