Greece has received the green light for the latest round of debt relief measures and is set to move ahead with plans to repay part of the loans it has received from the International Monetary Fund early.
The government is hoping in the coming days to wrap up draft legislation for the new payment schemes it wants to introduce for social security and tax debts.
The Greek government and the opposition have been given some encouragement in their goal to avoid the pre-legislated reduction of the tax-free threshold for incomes by European Commission vice president Valdis Dombrovskis.
Following the publication of its macroeconomic forecasts for Greece as part of the World Economic Outlook (WEO) release cycle, the International Monetary Fund (IMF) released on Wednesday its latest projections for public finances in the Fiscal Monitor.
The International Monetary Fund (IMF) published on Tuesday its latest edition of the World Economic Outlook (WEO) ahead of the Spring Meetings that take place in Washington this week, leaving its projections for Greece’s key macro data unchanged from the first post-monitoring report issued in mid-March.
Greek authorities appear to be working in parallel on the two goals Athens has set following the completion of the second post-programme review: To issue another sovereign bond and to pay off some of Greece’s debt to the International Monetary Fund before it matures.
The Greek government is aiming to come to an arrangement with its lenders in the coming days so that it can pay off early at least some of the 10 billion euros it owes to the International Monetary Fund.
The European Commission issued on Wednesday the update to its second post-programme surveillance report which should pave the way for the Eurogroup on Friday to approve the release of close to one billion euros in debt relief.
There is growing optimism in Athens that Friday’s informal gathering of eurozone finance ministers will result in a green light for the disbursement of 970 million euros as part of the latest round of debt relief measures.
The third post-programme review, which was due to begin this Monday, has been postponed for a few days as Athens looks to secure the disbursement of nearly 1 billion euros from the Eurogroup on April 5.