20:23 GMT05 April 2020
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    IMF may not be able to extend funds to debt-ridden Greece until the end of the year.

    MOSCOW (Sputnik) — The International Monetary Fund (IMF) may not be able to extend funds to debt-ridden Greece until the end of the year, a top-secret summary of its Wednesday board meeting indicates.

    The four-page document, obtained by the Financial Times and released on Thursday, says that IMF negotiators "cannot reach staff level agreement at this stage" on the new bailout package for Athens, although they will "participate in policy discussions."

    According to the Financial Times, the Fund will be able to decide whether Athens is eligible for more IMF financing after Greece’s Eurozone money lenders have agreed on debt relief for the cash-strapped nation.

    This prerequisite is a potential sticking point in the bailout talks since Greece’s key lender Germany previously ruled out any haircuts. Berlin also warned that it would be difficult for the government to get the multibillion aid package passed in parliament without IMF’s "parallel" involvement, according to the outlet.

    Greece is currently involved in consultations with its international creditors on another loan package. The talks began after Eurozone leaders reached a preliminary deal on July 13 to provide a new bailout plan worth 86 billion ($94 billion at the current exchange rate) for Athens in exchange for tougher austerity reforms.


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    bailout, International Monetary Fund, Greece
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