Tranche disbursement depends on the implementation of OECD recommendations

Fiscal negotiations with the troika have been concluded and there will be no measures for 2014, a senior Finance ministry official said on Tuesday after a meeting with the troika and the Development ministry regarding the implementation of a package of recommendations made by the Organisation for Economic Cooperation and Development (OECD) to boost competitiveness.

According to the same official,

the issue of the banks” capital needs remains open as the International Monetary Fund (IMF) and the European Commission have expressed different views.

The disbursement of the next tranche depends on the voting of the bill regarding implementation of recommendations made by the OECD, a senior Development ministry official said adding that Greece has agreed to implement 87 percent of the OECD recommendations compared to 80 percent it had previously agreed and accept a further 15 reforms from a total of 55 which had not been included in the government’s list.

Regarding the capital needs of the banks, Greece is aligned with European Central Bank (ECB) chief Mario Draghi that the central bank of each country shall be responsible to ascertain the capital adequacy of the banks.

«It is an institutional gap that the IMF, the European Commission and the ECB must solve between themselves,» the senior Finance ministry official noted.

source: ΑΜΝΑ