German Finance Ministry said on Tuesday that further financial assistance to Greece is dependent on the successful completion of a review of its bailout program and the participation of the International Monetary Fund (IMF).
Greece needs a new tranche of financial aid under its 86 billion euro bailout by the third quarter of the year to avoid the risk of defaulting on its debts. Greece’s government debt will reach 275 per cent of its gross domestic product by 2060, when its financing needs will represent 62 per cent of GDP, IMF report says. The government estimates public debt at about 180 per cent of present GDP.
Under the current program, loans have been disbursed by euro zone creditors without the formal participation of the IMF, although that has always been a requirement. Creditors now want to apply the agreed conditions for new loans to Athens more strictly. The IMF is set to discuss its role in the Greek bailout in a board meeting on Feb. 6.
Klaus Regling, who chairs the European Stability Mechanism (ESM), said on Monday that Greece will only receive more loans from the bloc if the IMF joins its latest aid program, spelling out a condition thus far disregarded by Athens's creditors.


Gold Prices Fall Amid Rate Jitters; Copper Steady as China Stimulus Eyed
Russian Stocks End Flat as MOEX Index Hits New 52-Week Low
Japan Inflation Stays Below BOJ Target Despite Rate Hike and Rising Energy Cost Risks
US Stock Futures Slip After Wall Street Rally Fueled by US-Iran Deal and Chipmaker Surge
Canada Imposes 10% Tariff on Canned Vegetable Imports to Protect Domestic Industry
Yen Near 40-Year Lows Despite BOJ Rate Hike, Markets Brace for Possible Intervention
Trump Says No Hormuz Strait Tolls During 60-Day Iran Ceasefire
100+ Global Companies Push Governments to Prioritize Electrification for Economic Growth 



