The Ministry of Finances is currently examining proposals and provisions from the Ministries of Labor, Justice, Administrative Reform, Environment and Growth in order to compose a draft bill to be submitted next week in Parliament.
The draft bill will contain all the prior actions that Greece needs to implement in order to collect the next bailout loan installment worth 1 billion euros, along with the 1.8 billion euros of Eurozone bank profits deriving from Greek bonds. The bill, which the government has agreed to pass by the 8th of August, will also pave the way for the next troika review to begin.
On Thursday the IMF’s William Murray explained that the sixth review of the Greek program is tentatively scheduled to begin on the 15th of September. The IMF representative argued that the intention is to complete the review as soon as possible, echoing the Finance Minister Gikas Hardouvelis’ proposal.
While creditors were skeptical of a quick review, since there is a fear that the implementation of measures in Greece may stall, the IMF changed its view. Similarly the European Commission is in favor of a quick review, provided that everything necessary is implemented as agreed. Aside from the prior actions, Greece will have to improve its bailout compliance rate, which at present is rather low (50%, according to the government).
