Third Greece Debt Deal Winds Up

Greece and the International Monetary Fund (IMF) have decided to cancel the current memorandum in order to avoid the payment of administrative charges associated with the program, Greek media report.

The Greek program was terminated in January, two months ahead of schedule, the IMF said earlier today.

IMF press officer Andreas Adriano confirmed the decision. “The IMF confirms that the 2012 program was canceled in January 2016, at the request of the Greek authorities,” Mr Adriano said.

The said program was slated to expire at the end of March. The Greek government has already requested a new program for further stability support, which once agreed upon will be dubbed “Memorandum of Economic and Financial Policies (MEFP)”.

In the meantime, representatives of Greece’s lenders – the European Central Bank, the IMF and the European Commission – are expected in Athens for further progress evaluation on the issues of the financial gap, insurance reform, taxes, the so-called red loans and the new privatization fund.