Velculescu: Debt relief measures must be specified soon

Thursday, June 29th, 2017
Last Update: 10:59

Addressing an Economist conference yesterday, top EU officials said that a major round of austerity cuts and reforms approved recently by the Greek government provided a real opportunity for the country public finances to recover.

In more detail, IMF’s mission chief Mrs. Velculescu said that talks among Greece’s creditors to specify the debt relief measures which will be offered to Greece must be completed soon, adding that the Greek government must fully implement the reforms it recently adopted.

Further, she reiterated the Fund’s position for the need to reduce Greece’s primary surplus target to 1%-of- GDP, adding that it is necessary for the assumptions on which debt relief measures will be based to be realistic.

Also EC’s mission chief Mr. Costello said that Greece had to implement what has been agreed with creditors, while described as important for debt sustainability the details provided for the medium-term debt relief measures: "We firmly believe that Greece has the opportunity to successfully conclude the programme.

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