Tuesday, July 23, 2024
 
 

IMF to close Athens office, as Greek economy steadily recovers

EPA-EFE/Stephen Jaffe HANDOUT HANDOUT EDITORIAL USE ONLY/NO SALES
A handout photo made available by the IMF shows International Monetary Fund Managing Director Kristalina Georgieva (R) welcoming Greek Prime Minister Kyriakos Mitsotakis (L) prior to their bilateral meeting at the IMF Headquarters in Washington, DC, 07 January 2020. 

- Advertisement -

The International Monetary Fund that assisted Greece throughout its international bailout process will close its Athens office in the coming months, Greek PM Kyriakos Mitsotakis said on Tuesday, after meeting with IMF Chief, Kristalina Georgieva, at IMF’s headquarters in Washington.
The Greek PM welcomed the decision adding that Greece would “continue to cooperate as a country that has emerged from the austere framework of supervision by the IMF.”
Greece completed its third bailout program in August 2018 and continues to advance its recovery under the governance of Mitsotakis and his party New Democracy that won an absolute majority in July’s elections.
“The relationship with the Fund has not always been easy, but I think we agree on some important issues, such as the need to reduce primary surpluses in 2021,” Mitsotakis said, calling European lenders to ease budget surplus targets set during the 2015 bailout.
Georgieva tweeted that IMF pledges to “continue to support Greece in its endeavour to improve growth, increase competitiveness, and further reduce unemployment and poverty”.
Greece’s fiscal process is still being monitored by the euro zone and the IMF, from which, Greek governments borrowed more than €290 billion in emergency loans during the multi-year debt crisis.
 
 
 

- Advertisement -

Subscribe to our newsletter

Latest

Americans deserve far more than a coronation

After the NATO Summit in Washington on July 9-11,...

EU Parliament begins its 10th mandate

The European Parliament was officially constituted on July 16,...

Policies on Deforestation Show Europe’s Internal Splits

Former U.S. Secretary of State Henry Kissinger once famously...

NATO Summit: “Trump-proofing” Ukraine support while Biden appearances under a microscope

The July 9-11 NATO Summit was originally envisioned as...

Don't miss

Americans deserve far more than a coronation

After the NATO Summit in Washington on July 9-11,...

EU Parliament begins its 10th mandate

The European Parliament was officially constituted on July 16,...

Policies on Deforestation Show Europe’s Internal Splits

Former U.S. Secretary of State Henry Kissinger once famously...

NATO Summit: “Trump-proofing” Ukraine support while Biden appearances under a microscope

The July 9-11 NATO Summit was originally envisioned as...

Russia failing to replace lucrative European gas deliveries with sales to China

Russia’s attempts to build the Power of Siberia 2...

North Macedonia: Resuming course towards the political dark side?

As most analysts predicted after the strong showing of the nationalist presidential candidate in the first-round presidential elections on April 24, VMRO-DPMNE (Internal Macedonian...

G7 Italy 2024 Foreign Ministers’ Statement on Addressing Global Challenges, Fostering Partnerships

The text of the following statement was released by the G7 foreign ministers of Canada, France, Germany, Italy, Japan, the United Kingdom and the...

With Sweden now a NATO member, what’s next?

Sweden completed the necessary diplomatic formalities on March 7, depositing its instrument of accession with the U.S. State Department in Washington, which manages the...

Intellexa Commercial Spyware Consortium sanctioned

The U.S. Government announced on March 5 a new set of sanctions on the members of the Intellexa Commercial Spyware Consortium based across Europe....

Alexandroupolis LNG Terminal going live after test runs

The Gastrade consortium confirmed on February 18 the long anticipated Liquified Natural Gas (LNG) terminal at Alexandroupolis in Greece’s province of Thrace has received...

Playing politics with EU veto power – a very old game

In late November, German Chancellor Olaf Scholz, standing alongside visiting Greek Prime Minister Kyriakos Mitsotakis, told the media that he was against the “bilateralization”...

Shockwaves from the Gaza War begin impacting the global economy

In this era of globalization almost any regional crisis can be expected to trigger defensive strategies on the part of major companies and investors....

Zelensky Athens visit eclipses Mitsotakis’ informal Western Balkans Summit

Receiving a full house of Western Balkan leaders, as well as several EU luminaries, in Athens on an evening when much of northern Greece...