Greece on track to reach a deal with creditors within 3 weeks, IMF official says
The biggest guarantee that Greece and its creditors will finally reach an agreement on its debt burden is the upcoming payment deadlines that will force through a deal, an IMF official has told CNBC.
European creditors and technical teams from the International Monetary Fund (IMF) have been unable to agree on certain economic forecasts – key to determine how to make the Greek public debt more sustainable.
Sensitive political issues, including the upcoming election in Germany, have also delayed the process. But, according to the IMF official, who has knowledge of the talks but didn’t want to be named due to the sensitivity of the issue, the upcoming July repayments that Greece owes to creditors will ensure an agreement will be reached in about three weeks’ time.