IMF set tough conditions to Greece against the allocation of new funds

The International Monetary Fund (IMF) set tough conditions for Greece before releasing the next tranche of financial aid for the country. The creditors have strong concerns about the implementation of the reforms in the country for successful completion of the inspection. The framework agreement for the participation of IMF in the third Greek rescue program is ready and worries about the measures that IMF will ask from the Greek side are escalating.

“Reduce pensions, increase layoffs”, said the representative of the Fund in Athens, Delia Velculescu. She requested from the Greek government three shock measures, as a condition for IMF involvement in the Greek program.

According to the local media, the creditors of Greece has demanded taxes from even the poorest citizens. Taxes amounting to 6 billion EUR has to be paid by the Greeks until the end of the year. The institutions believe that 3 million taxpayers in Greece hide their income to avoid paying taxes.

Greece is preparing for the visit of the US President Barack Obama, who will arrive on November 15. The expectations in Greece are the main topic of conversation will be the debt of the country. The Greek government has a strong ally in US efforts to push the idea of forgiveness of debts.

“The political turnaround in the US may be limited the initial high expectations of the government in Athens, but in any case it still hopes to reap political dividends from this visit”, commented the analysts in local newspapers.

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