IMF board convenes end of May to approve next loan installment

The board of directors of the International Monetary Fund will convene on the 28th of May in order to discuss and approve the payment of a 3.6 billion…

The board of directors of the International Monetary Fund will convene on the 28th of May in order to discuss and approve the payment of a 3.6 billion euros loan installment to Greece.

A report in Ta Nea attributed the delay to the Greek government’s failure to fulfill certain prior actions requested by the IMF. Amongst these actions are:

  • Reforms in tax administration
  • Introducing a regulation so that business contracts outweigh collective contracts in shipping
  • Payment of outstanding debts towards DEI
  • Further deregulating “closed professions”, such as mechanics and geotechnicians
  • Simplifying procedures for the short-term leases of tourist villas

Most of these prior actions have been settled, meaning that the critical IMF board meeting in May can take place.

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