Don't miss

Replay


LATEST SHOWS

EYE ON AFRICA

Donors pledge millions at Uganda refugee summit

Read more

MEDIAWATCH

Depp plumbs depths of bad taste

Read more

THE WORLD THIS WEEK

France's new frontman, America's absent center, May's Brexit gambit, Saudi royal reshuffle, after Mosul & Raqqa fall

Read more

REVISITED

Senegal’s Casamance hopes for new era of peace

Read more

THE INTERVIEW

FARC disarmament a 'historic day' for Colombia, says president

Read more

FASHION

Cruise collections: All aboard for Dior and Chanel's latest fashions

Read more

ENCORE!

Colombia comes to France

Read more

#THE 51%

The last taboo: Helping women and girls. Period.

Read more

DOWN TO EARTH

Who benefits when the ice caps melt?

Read more

Europe

IMF mission to Athens will not discuss rescue loan, says official

Text by News Wires

Latest update : 2010-01-11

The IMF will send a team to Athens Wednesday to offer technical assistance to help the government address the Euro-area’s largest budget deficit. However, Greece's Ministry of Finance said there would be no talk of a loan for the moment.

AFP - An IMF mission is coming to Athens to offer technical assistance to help Greece fix its public finances but there will be no talk of a loan, the finance ministry said.

"We have invited them to help us with their technical know-how, notably for the reform that we have launched to draft the budget," a ministry official told AFP on condition of anonymity.

"A loan is not being discussed," the official said.

The International Monetary Fund delegation will begin discussions with Greek officials from various ministries on Wednesday, the source said. Greece has turned to IMF experts several times before, including to fight tax fraud.

The IMF announced earlier Monday that it was sending a mission that would stay in Greece for about one week "to explore possibilities for technical assistance from the IMF in the coming months on pension reform, tax policy, tax administration, and budget management."

The IMF mission comes after experts from the European Commission and the European Central Bank met with Greek officials during a three-day visit last week to examine the country's public finances.

Both the ECB and Spanish presidency of the European Union have warned that Greece should not expect a bailout from the bloc.

Greece, which has acknowledged that it has a credibility problem with the financial markets, has come under pressure from the European Union to clamp down on its ballooning public deficit.

Greece's public spending deficit rose to 12.7 percent of output last year and debt to 113 percent of gross domestic product (GDP).

The Greek government has said it will get the deficit down to 8.7 percent in 2010 by cutting government spending and fighting tax fraud. It aims to bring it to below 3.0 percent of GDP, the limit imposed by the eurozone, in 2012.

Athens must present its crisis programme to the EU by the end of the month.
 

Date created : 2010-01-11

  • ECONOMY

    No EU help for Greece with gaping deficit says ECB official

    Read more

  • GREECE

    Unions strike against government austerity plan

    Read more

  • GREECE

    PM outlines massive spending cuts, warns of 'sinking' under debt

    Read more

COMMENT(S)