IMF deal on Greece ‘very pos­i­tive’ for mar­kets: Moscovici

Muscat Daily - - BUSINESS -

The In­ter­na­tional Mon­e­tary Fund’s (IMF) ap­proval of a one year US$1.8bn loan for Greece was a ‘very pos­i­tive sig­nal for the mar­kets’, the European Union’s (EU) com­mis­sioner for eco­nomic and mon­e­tary af­fairs, Pierre Moscovici, said on Fri­day.

“The de­ci­sion taken by the IMF is very good news. It’s an­other pos­i­tive in­di­ca­tor of the re­turn of con­fi­dence by Greece’s in­ter­na­tional part­ners. And it’s a very pos­i­tive sig­nal for the mar­kets,” Moscovici said.

Un­der the terms of the deal, the In­ter­na­tional Mon­e­tary Fund will not ac­tu­ally re­lease any of the funds un­til the eu­ro­zone agrees on a debt re­lief plan, in what was seen as a highly un­usual com­pro­mise step.

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