FinMin Tsakalotos: The negotiations with the representatives of lenders will resume on April 18

The negotiations between the Greek government and the representatives of lenders will resume on April 18 after the Spring Meetings of the International Monetary Fund (IMF) and the World Bank, Finance Minister Euclid Tsakalotos said, after a round of talks in Athens that broke off around 2:00 a.m.

“We are adjourning” so that representatives of institutions and the Greek government may attend the meetings in Washington, DC on April 15-17, he said.

According to Tsakalotos, all four institutions (European Commission, IMF, ESM and ECB) and the government agreed to the break in talks, despite progress on large issues, because there are a lot of minor issues that could not be resolved in the available time in order to draft a staff level agreement that must be presented to the Eurogroup for ratification by the Finance ministers of the eurozone. He appeared optimistic that “an agreement will be concluded shortly before the Eurogroup.”

The issues discussed today included the fiscal state, non-performing loans and social insurance funds. Issues related to the ministries of education and justice and the new privatisation fund were not discussed.

According to statements by a high-level government official earlier, the government and the lenders have come close to agreeing on excluding the sale to funds of loans of primary residences, as long as their state-set (or “objective”) value does not exceed 160,000 euros. The exemption would last until the expiration of the current memorandum in May 2018.

Both sides discussed the option also of bundling regularly performing loans with NPLs in loans sold to funds, as well.