The International Monetary Fund (IMF) announced late Monday that it is releasing the fourth tranche, 4.1 billion euros, of its share of the 110 billion euro EU/IMF support loan to Greece.
An announcement said the IMF Executive Board has voted in favor of disbursement of the above sum to Athens.
The majority of the Executive Board expressed satisfaction with the progress achieved by Greece thus far, but noted that structural changes need to be sped up for the successful implementation of the Greek economy's stabilisation program.
The underlying fiscal and wider reforms necessary for achieving the middle-term targets of the program are gradually being put in place, although some important reforms need to be planned and applied for the creation of a critical mass that is necessary to support fiscal viability and economic recovery, the IMF said.
An announcement said the IMF Executive Board has voted in favor of disbursement of the above sum to Athens.
The majority of the Executive Board expressed satisfaction with the progress achieved by Greece thus far, but noted that structural changes need to be sped up for the successful implementation of the Greek economy's stabilisation program.
The underlying fiscal and wider reforms necessary for achieving the middle-term targets of the program are gradually being put in place, although some important reforms need to be planned and applied for the creation of a critical mass that is necessary to support fiscal viability and economic recovery, the IMF said.
A measure of stabilisation has been achieved, IMF first deputy managing director John Lipsky said after the Board meeting, adding that greater emphasis needs to be placed on underlying reforms in the period ahead.
source: ANA-MPA
