cloudyn.png
Friday September 25th, 2020 6:04AM

Greek PM says IMF to close its Athens offices within months

By The Associated Press

ATHENS, Greece (AP) — The International Monetary Fund will close its offices in Athens in coming months, a decade after it joined in a huge bailout program that kept Greece afloat, Greece's prime minister said Tuesday.

Kyriakos Mitsotakis said Greece would continue to cooperate with the IMF, but "as a country that has exited the IMF's strict surveillance framework." The planned move is seen as symbolic confirmation of the country's return to financial respectability.

Mitsotakis spoke following a meeting in Washington with the fund's new managing director, Kristalina Georgieva.

Greece required three bailouts from its partners in the eurozone and the IMF starting in 2010, to avoid going bust. This became necessary after the country found itself unable to borrow in international money markets, following revelations that it had under-reported key financial data for years.

The bailout programs ended in August 2018, and the country has regained market access after a painful eight-year effort to right its finances - the rescue money came with strict conditions. During the bailout era, Greece saw unemployment spike sharply higher, while incomes were repeatedly slashed and taxes hiked.

Athens is still subject to post-bailout surveillance by its creditors.

Last year, Greece made an early repayment of some of its loans from the IMF, and the government says a further portion of the IMF loans will be repaid early later this year.

  • Associated Categories: Associated Press (AP), AP Business, AP Business - Economy, AP Business - Financial Markets, AP Business - Industries, AP Business - Financial Services
© Copyright 2020 AccessWDUN.com
All rights reserved. This material may not be published, broadcast, rewritten, or redistributed without permission.
MLB to investigate reports 2018 champion Red Sox stole signs
Major League Baseball says it will investigate allegations the Boston Red Sox illegally used their video replay room to steal signs between opposing pitchers and catchers during their 2018 World Series championship season
4:04PM ( 7 minutes ago )
Stampede kills 56 at funeral for Iranian general slain by US
Iranian state TV says a stampede at the funeral for a top general slain in a U.S. airstrike has killed 56 people and injured 213 others
3:51PM ( 20 minutes ago )
Trump donor charged with obstructing inauguration inquiry
A major donor to President Donald Trump's inaugural committee has been charged with obstructing a federal investigation into whether foreigners unlawfully contributed to inaugural events
3:44PM ( 27 minutes ago )
Associated Press (AP)
AP source: Giants nearing deal with Pats' Judge to be coach
A person familiar with the negotiations tells The Associated Press the New York Giants and Patriots assistant Joe Judge are working on a deal for him to become the team's next head coach
3:30PM ( 41 minutes ago )
Venezuela opposition leader takes new oath amidst standoff
Venezuelan opposition leader Juan Guaidó and lawmakers who back him pushed their way into the legislative building on Tuesday following an attempt by rival legislators to take control of the congress
3:02PM ( 1 hour ago )
Uber to let riders use pin codes to help identify right car
Uber is offering riders a four-digit pin code to help ensure they're getting into the right car
2:53PM ( 1 hour ago )
AP Business
Stocks steady, gold pauses rally ahead of next US-Iran move
Stocks are mixed in late morning trading on Wall Street as investors wait for the next step in the increasingly tense U.S.-Iran confrontation
11:23AM ( 4 hours ago )
Tesla delivers first Chinese-made Model 3 to customers
Tesla has delivered its first Chinese-made cars to customers and chief executive Elon Musk says the electric car brand plans to set up a design center in China
11:08AM ( 5 hours ago )
AP Business - Economy
Shares rebound, oil prices retreat despite US-Iran woes
World shares have rebounded following modest gains on Wall Street despite caution over rising tensions between the U.S. and Iran
3:56AM ( 12 hours ago )
Gold, oil prices retreat, shares rebound in Asian trading
Shares have rebounded in Asia following modest gains on Wall Street despite caution over rising tensions between the U.S. and Iran
1:54AM ( 14 hours ago )
Gold climbs on war worries; US stocks shake off early loss
Stocks shook off an early loss and managed modest gains on Wall Street as traders remain cautious about rising tensions between the U.S. and Iran
4:36PM ( 23 hours ago )
AP Business - Financial Markets
US prepares for possible Iranian reprisal after drone strike
United States officials are braced for Iran to respond to the killing of its most powerful general
11:09AM ( 5 hours ago )
Stampede kills 40 at funeral for Iranian general slain by US
A stampede at a funeral for a top Iranian general slain in a U.S. airstrike has killed 40 people and injured 213 others
9:12AM ( 7 hours ago )
Rising carbon prices led to drop in German emissions in 2019
Germany's greenhouse gas emissions fell sharply last year, putting the country's 2020 climate goal within reach again
8:31AM ( 7 hours ago )
AP Business - Industries
Georgia's new GOP senator enters politics amid impeachment
A Republican businesswoman set to be sworn in as Georgia’s next U.S. senator will enter the chamber with a unique distinction: Her first vote could be on whether to remove the president
1:14AM ( 1 day ago )
Oil prices surge, stocks fall after US kills Iranian general
Stocks fell broadly and oil prices surged after a U.S. strike killed a top Iranian general in Iraq, raising tensions in the Middle East. The selling ended a five-week winning streak for the S&P 500 a day after the index hit its latest record high
4:59PM ( 3 days ago )
Wall Street gets 2020 off to a solid start with more records
Stocks got the New Year off to a roaring start with more solid gains and record highs for major U.S. indexes, following up on a strong finish to 2019
5:03PM ( 4 days ago )
AP Business - Financial Services
Stampede kills 56 at funeral for Iranian general slain by US
Iranian state TV says a stampede at the funeral for a top general slain in a U.S. airstrike has killed 56 people and injured 213 others
3:51PM ( 20 minutes ago )
Trump donor charged with obstructing inauguration inquiry
A major donor to President Donald Trump's inaugural committee has been charged with obstructing a federal investigation into whether foreigners unlawfully contributed to inaugural events
3:44PM ( 27 minutes ago )
Bloomberg, Northam push back on gun law 'misinformation'
Democratic presidential hopeful Michael Bloomberg is voicing support for enacting new gun regulations in Virginia a few months after groups he backs spent millions of dollars helping Democrats win full control of state government
3:40PM ( 32 minutes ago )
McConnell: GOP will start impeachment trial, delay witnesses
Senate Majority Leader Mitch McConnell says he has secured enough Republican votes to start President Donald Trump’s impeachment trial and postpone a decision on witnesses and documents Democrats want
3:38PM ( 34 minutes ago )
Legal group seeks federal inquiry into Mississippi prisons
Prisoner advocates are calling on the federal government to investigate Mississippi’s prison system for possible civil rights violations
3:37PM ( 35 minutes ago )