Greece’s Bailout Exit to Dominate Eurogroup Gathering

The countdown for talks leading to Greece’s completion of its fiscal adjustment program will begin at a Eurogroup Working Group (EWG) meeting on Thursday.

Thursday’s meeting will open discussions on Greece’s growth strategy following the program, a topic on the agenda of the upcoming Eurogroup meeting in Sofia, Bulgaria on April 27.

According to sources speaking to Athens-Macedonian News Agency (AMNA), the country’s creditors (institutions) are already working on a draft of Greece’s future strategy plan before it is formally presented in Sofia by Finance Minister Euclid Tsakalotos.

The completion of prior actions by end-April will allow the Eurogroup to reach a preliminary agreement for Greece’s exit from the loan program.

Meanwhile, the IMF-World Bank Spring Meetings in Washington DC on April 20-22 are expected to discuss the issue of Greek debt relief.

The IMF has said it will activate a stand-by arrangement with Greece if the country’s European partners can guarantee the debt’s sustainability.

Brussels’ plan foresees that June’s Eurogroup will put the final touches on an agreement including the completion of the fourth and last fiscal review, debt relief and post-program supervision.

Heads of institution missions are expected to return to Athens early in May, to complete the fourth review. Unfulfilled prior actions at the time, including energy plans and privatization, will be given until June to be completed.


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