Put together, these two reports suggest a compromise is being strung together, with both the IMF and the ECB giving enough ground to get Greece's delayed aid tranche through.
And if finance ministers cannot reach a final deal, the matter will inevitably have to be taken up at the European summit that is supposed to discuss the EU budget two days later.This timing delays yet again the disbursement of the much-delayed tranche of euro-zone aid, worth €31.5 billion.
The IMF has delayed the next tranche of a €20 billion ($30 billion) loan until the parliament agrees to a budget deficit no bigger than 5.9%% of GDP.
In Brussels, euro zone finance ministers were unlikely to sign off on a long-delayed tranche of aid for Greece ahead of a final report by the troika on reforms Athens agreed to make as a condition of receiving two bailout packages totaling 240 billion euros.
Colombia has ordered its navy to remain in the disputed waters.Just call it another bail-outAfter several attempts, the euro zone's finance ministers agreed partly to reschedule Greece's debt, disburse a long-delayed tranche of aid worth €34.4 billion ($44 billion) this month and find other ways to alleviate the country's financial burden.
But the ministers still were unlikely to sign off on a long-delayed tranche of aid for Greece ahead of a final report by the so-called troika of lenders — the European Commission, International Monetary Fund and European Central Bank — on reforms Athens agreed to make as a condition of two bailout packages totaling €240 billion, or $305 billion.
One reason why the share offering was delayed, and its New York tranche scrapped entirely, was a series of revelations earlier this year of fraud within the Bank of China.
4.13pm BST Dow Jones: "Greek aid tranche could be delayed" Dow Jones is reporting that the decision on whether to grant Greece its next tranche of aid, worth over €31bn, could be delayed until November!
Ukraine's prospects dimmed last month, after the IMF said it was delaying the second tranche of a $16.4 billion aid package after it sent a mission to the country, but failed to convince leaders to accept the terms of the package.
Monday's meeting, postponed from this week, had been expected to sign off on the big tranche of loans delayed since the summer, after the Greek parliament's adoption of a new austerity package this week and its anticipated passing of a new budget on Sunday.
The IMF has delayed approving the so-called "fifth tranche" – worth about €12bn – because it is concerned about Greece's ability to fund itself in 2012.
