Connect with us

Hi, what are you looking for?

Capital Business
Capital Business
Demonstrators clash with the anti-riot police in Athens in February/XINHUA


IMF eyes March 15 meeting on new Greece loan

Demonstrators clash with the anti-riot police in Athens in February/XINHUA

WASHINGTON, Mar 8 – The International Monetary Fund’s directors are planning to weigh a new loan for Greece as part of a 237-billion-euro ($314 billion) second bailout on March 15, Fund spokesman Gerry Rice said on Thursday.

“The Executive Board meeting is tentatively scheduled for March 15th,” Rice told reporters.

“That is of course… pending completion of prior actions by the Greek authorities, and pending the full establishment of financing assurances including agreement on the PSI arrangement.”

That was a reference to the “private-sector involvement” in the balance Thursday, in which at least 75 percent of the country’s private creditors need to commit to a deal to write down 107 billion euros ($142 billion) of Greek debt.

“We have an interest obviously in the debt exchange being successful. That will require a high participation rate,” Rice said.

“It’s for the authorities and their legal advisers to determine how high a participation rate can be achieved, and it’s a matter of policy.
We don’t micromanage that process.”

Creditors have a deadline of 2200 GMT to decide whether to support the deal. Earlier Thursday the lead negotiator for private-sector creditors said he was optimistic the threshold would be reached.

Click to comment

More on Capital Business

Executive Lifestyle

NAIROBI, Kenya, Mar 12 – The country’s super wealthy individuals are increasing their holding of bonds, gold and cash, a new report by Knight...

Ask Kirubi

NAIROBI, Kenya, Mar 9 – Businessman and industrialist Dr. Chris Kirubi has urged members of the public to exercise extreme caution when making any...

Ask Kirubi

NAIROBI, Kenya, Mar 24 – Businessman and industrialist Dr. Chris Kirubi is set to own half of Centum Investment Company PLC, following a go-ahead...

Ask Kirubi

It is without a doubt that the COVID-19 pandemic has caught the whole world by surprise. Although its full impact is yet to be...


NAIROBI, Kenya, Mar 18 – Commercial Banks have been ordered to provide relief to borrowers on their personal loans, with loans eligible from March...


NAIROBI, Kenya, Jun17 – Kenya’s tea leaves manufacturer Kericho Gold, has been awarded the Superbrands Seal by Superbrands East Africa for their quality variety...


NAIROBI, Kenya, Apr 13 – As the local telecommunications industry gears up to roll out 5G networks in the country, the Communications Authority of...


NAIROBI, Kenya, Mar 22 – Airtel Kenya is offering free internet access for students in order to enable continued learning at home in the...