International development

The calm reaction of the markets to the International Monetary Fund's stance on Greece means that the government's plans for a trial bond issue may be revived this week.

General Director of the International Monetary Fund (IMF) Christine Lagarde returned to Washington yesterday to take part in today’s crucial meeting of the IMF Board of Directors, and will attempt to convince the Fund’s members to agree on the body’s participation in the new Greek Programme. The IMF Chief will have the support of Poul Thomsen, the head of the group’s European branch and Mrs.

The government is freezing its plans for a bond issue that was scheduled to take place on Monday or Tuesday. Following a series of meetings over the weekend, it decided to delay the trial return to the markets until the International Monetary Fund publishes its debt sustainability analysis (DSA).

The International Monetary Fund has again found that Greece's debt is unsustainable under every scenario, according to the report the Executive Council will be discussing on Thursday to decide on the Fund's participation in the Greek program, sources say.

The International Monetary Fund has approved a second tranche of a $12 billion loan to Egypt, praising the country's tough economic reforms that have fuelled inflation.

In a statement on July 13, IMF managing director Christine Lagarde said the approval of the roughly $1.25 billion tranche showed "the IMF's strong support for Egypt in these efforts."   

We got the much-desired loan instalment, we pledged more reforms to the IMF and the Cyprus talks have ended. Greece suddenly finds itself outside the framework of talks with creditors and partners. Nor are there any elections on the horizon.

In a letter of intent to the International Monetary Fund (IMF) seen by Kathimerini, Prime Minister Alexis Tsipras pledged to set a ceiling to hirings of contract workers to municipalities in 2017 and 2018, and to make changes to trade union laws in order to get the Washington-based organization to join the Greek program. 

The European branch of the IMF has sent its sustainability report on the Greek debt to the fund’s Executive board, which is scheduled to discuss the matter on July 20.

BELGRADE - The government and the National Bank of Serbia have strengthened the national economy dramatically, IMF Mission head James Roaf said in Belgrade on Wednesday.

Serbia is focused on wrapping up its IMF program this year, and it will evaluate the implications for economic growth before seeking a new arrangement.

This is what Serbian Prime Minister Ana Brnabic has told Bloomberg.