Greece, troika lenders to meet in Paris in September

29th July 2014, Comments 0 comments

Greek officials will meet with the country's EU-IMF creditors in September in Paris instead of Athens, an official close to the lenders said Monday.

Partially confirming earlier Greek media reports on the meeting, the official told AFP that it would not be a formal review on the country's loan program, but instead preparatory talks.

Greece is under pressure to meet tough conditions for the next drawdown of the bailout loan, planned at 1.0 billion euros ($1.3 billion), but is also hoping for some leniency given the sluggish pace of the broader eurozone economy.

Citing IMF sources, Mega TV said the talks would be held on September 3-5.

Financial website euro2day added that the Greek ministers of finance, development and administrative reform would be at the meeting with senior representatives from the so-called troika of international lenders: the European Union, the European Central Band and the International Monetary Fund.

Athens is hoping that in October, EU finance ministers will approve measures to make its huge debt more sustainable.

Greek Prime Minister Antonis Samaras has repeatedly insisted that his country will exit a six-year recession this year, and does not intend to request another loan lifeline.

Samaras told German business daily Handelsblatt last month debt alleviation could take the form of lower interest rates, longer loan maturities, additional years of no repayment, or a combination.

Europe's statistics agency Eurostat estimates Greece's debt in 2013 exceeded 318 billion euros, or 175.1 percent of economic output, up from 304 billion, or 157.2 percent, a year earlier.

The crisis-hit country has so far drawn two EU-IMF bailouts worth 240 billion since 2010.

© 2014 AFP

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