Greece to Send Draft Proposals to IMF and EU

Greek finance minister Yanis Varoufakis was due to send draft proposals to International Monetary Fund and EU institutions on Sunday outlining a set of reforms that would meet conditions laid out in Friday’s eleventh-hour deal to extend for four months the country’s €172bn rescue program.

The reforms would be “mainly of a structural nature” and would not include details of projected revenue increases or spending cuts, a government official said.

Athens would spell out measures to crack down on tax evasion and fuel and cigarette smuggling that could raise about €2bn-€2.5bn this year, according to the same official.

CNBC

Content is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please access the RSS feed or contact us at info@marketpulse.com. Visit https://www.marketpulse.com/ to find out more about the beat of the global markets. © 2023 OANDA Business Information & Services Inc.