IMF Decision on Greek Bailout Expected Within Days: EU Officials

By Nikos Chrysoloras and Viktoria Dendrinou
(Bloomberg) --
Euro-area governments still seeking activation of International Monetary Fund’s credit line for Greece, as IMF participation is important for the credibility of the bailout program, an EU official tells reporters in Brussels.
  • Timelines are running short, “we ’re in the crucial days” for IMF’s decision the official says, asking not to be named in line with policy; the decision is expected on Thursday, after the meeting of euro area finance ministers in Brussels, a second official says, also on condition of anonymity
  • IMF still seeking clarity on Greek debt relief, first official says:
    • Eurogroup discussion on Greek debt relief this week will be more extensive than it was in the last meeting of euro-area finance ministers last month, but the final package of measures will be agreed in June
    • It’s really important that Greece completes all the prior actions for the conclusion of the last bailout review by June, so that the whole package of measures for the exit from the bailout can be agreed when euro-area finance ministers meet in Luxembourg on June 21
  • On Italy, EU official says that it has to follow the bloc’s fiscal rules, just like any other country in the currency bloc
    • It’s too early to discuss Italy in this week’s meeting of euro-area finance ministers as there’s no government


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